On April 20th 2012, the Merchant Shipping Rules ( Regulation of Entry of Ships into Ports, Anchorages and Other Offshore facilities ) was published which required that any any vessel of three hundred tons gross or more, other than Indian ships, entering into or sailing out of ports, terminals, anchorages or seeking port facilities in Indian territorial waters would need to be in possession of adequate insurance coverage against maritime claims.
The operator of these vessels are required to have a valid protection and indemnity insurance policy against maritime claims to enter into the Indian coastal waters and the operator should also ensure that such insurance policy remains valid during the vessels stay in the port areas or offshore terminal under the jurisdiction of India or areas in the coastal waters of India.
The rules require that the protection and indemnity insurance should be provided by the International Group of Protection and Indemnity Clubs or such other Insurance Company as authorised from time to time by the Government of India.
Kish P & I Club, Iran, Maritime Mutual Insurance ( NZ ) Ltd., New Zealand, QITA P & I Club, Iran are the latest non-IG Insurers been approved by the DG Shipping office vide their circular dated 18th July 2017.
The list of approved insurers is reviewed by the Government of India according to set proceedures and include the following -
QBE Insurance ( Europe ) Ltd., UK ( Trading name – British Marine ) ; Royal and Sun Allaince Insurance Plc, UK ( Trading name – Lodestar Marine Ltd.) ; MS Amlin Marine N.V., Netherlands ; Osprey Underwriting Agency Ltd., UK ( Trading name – Thomas Miller Speciality ) ; Korea P & Club ; Korea Shipowners Association…
A full list of the authorised non-IG Insurance companies is available on the website of DG Shipping, India vide http://www.dgshipping.gov.in/Content/noniginsurancecompanies.aspx