Summary
The pool gives money help for ship damage, cargo loss, and even war risks.
The government promises extra money if big claims are needed.
Key Points
4 points1
The pool started in May 2026 and covers Indian‑flagged vessels and cargo.
2
It can pay for claims up to about 100 million United States dollars.
3
War‑risk coverage includes protection from conflict, piracy and terrorism.
4
Since launch, ship insurance prices have dropped about 35‑40 percent.
New Words to Learn
5 wordsmaritime
related to the sea and ships
cargo
goods or items that are carried on a ship
war risk
danger from fighting, pirates or attacks while at sea
premium
the amount of money you pay for insurance
claims
requests for money when something bad happens
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