With more than 80 marine war-risk policies issued since its May launch, India is advancing plans to build a domestic protection and indemnity (P&I) framework.
Three policies have been issued to Hoger Offshore and Marine, Vedanta Sterlite Copper and Balrampur Chini Mills, indicating early uptake by industrial and shipping‑linked corporates.
India's long-delayed plans for a domestic P&I club have gained fresh urgency as the Strait of Hormuz blockade disrupts the country's energy cargo flows.
Fitch has identified correlated aggregation risk as the key near-term concern for specialty insurers, even as the agency maintains a broadly contained ratings outlook.
