The Insurance Regulatory and Development Authority of India (IRDAI) is in talks with Indian National Shipowners Association (INSA) to develop a protection and indemnity insurance club (P&I club) in India, a move that will support the development of a marine insurance market in India, said insurance sector players at a Maritime India Summit, reports The Hindu Business Line.
What is P&I club?Marine premium formed about 2 per cent of the gross domestic premium in FY20. India has been looking to put...
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