The facility offers up to US$200m each for hull and P&I risks, alongside US$200m of dedicated cargo cover, as the market responds to the planned phased reopening of the waterway.
IRClass, a non-profit organisation, has tightened international sanctions enforcement removing hundreds of vessels tied to Russian and Iranian trade flows.
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.
