Govt to put a cover on ships in war zone

Mumbai: Some key ministries, including shipping and finance, met on Friday to firm up a sovereign-backed insurance mechanism, even as general insurers and reinsurers pool together $100 million (about ₹930 crore) of capacity for a Bharat Marine Pool to cover vessels sailing through war zones.Indian general insurers, led by state-owned GIC Re and New India Assurance, have stitched up the initial $100 million pool that will serve as the first layer of protection against war-related risks in critica...