Question
The Union Cabinet approved the creation of Bharat
Maritime Insurance Pool with a sovereign guarantee of Rs. 12,980 crore. What is the combined underwriting capacity provided through this pool?Solution
The Bharat Maritime Insurance Pool provides a combined underwriting capacity of approximately Rs. 950 crore through pool member insurers under a pooled mechanism with policies issued collectively. The pool ensures continuous insurance coverage for 10 years, extendable up to 15 years.
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