Charter flights into the Gulf continue to attract high war risk premiums, some even doubling the total cost, as commercial aviation gradually recovers across the region.
4.97bn rupee (approx. US$53.5m) scheme sees India joins a growing list of governments mobilising state-backed insurance support in response to conflict.
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.
Marking its 60th anniversary this year, the company reported its most recent cumulative insured business exceeding HK$2.45 trillion (US$313bn), encompassing over 200 markets globally.
War-risk terms have tightened across shipping and aviation, with P&I clubs cutting Gulf liability limits and insurers reassessing cover amid route disruption.
Insurance Authority says the five-insurer facility, which covers 10 mainland-owned vessels, draws on local market familiarity with Chinese shipping groups to deliver more tailored underwriting than London...
