India Broadens Approval for Russian Insurers to Back Shipping Coverage
Authorities in New Delhi have increased the number of Russian insurers permitted to operate in the country’s maritime sector, raising the total from eight to eleven, according to regulatory updates cited by international reporting agencies.
Several Russian insurance firms have reportedly been added to the approved list, alongside extensions granted to others for continued operations through the coming years. Some of these companies remain subject to international sanctions, while still receiving regulatory clearance to provide marine coverage within India’s jurisdiction.
India has also permitted additional foreign-based maritime insurance entities to offer coverage, as port congestion has increased in certain regions. Local political figures have highlighted significant vessel backlogs at key ports, attributing part of the pressure to shifting global shipping routes linked to ongoing geopolitical tensions.
The approved insurers operate outside the major Europe-based international protection and indemnity system, which covers a large share of global maritime trade but excludes Russian vessels due to sanctions imposed in recent years.
India’s move reflects efforts to maintain flexibility in its shipping and insurance framework while accommodating changing trade flows and geopolitical constraints affecting global maritime logistics.
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