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.
The trade credit insurer is rolling out liquidity aid, faster claims handling, and counterparty diversification support for firms exposed to markets around the Strait of Hormuz and Israel.
