`By introducing this dedicated add-on, which integrates with our “Bharat Laghu Udyam Suraksha “and “Business All-Risk Flexi Suite”,we are filling a vital protection gap for large-scale industrial units and infrastructure projects,complementing on our War Cover in a landmark move towards national self-reliance and securing India’s strategic interests,” said Girija Subramanian,CMD, NIA

Mumbai:For the first time,New India Assurance(NIA), the largest general insurance in the country, has launched a much needed War Cover in the Fire segment to help the India Inc to manage its geopolitical risks out of West Asian crisis.

Historically, standard Fire policies in India doesn’t cover war risks and any losses from war and hostilities are excluded.

“By introducing this dedicated add-on, which integrates with our “Bharat Laghu Udyam Suraksha “and “Business All-Risk Flexi Suite”, we are filling a vital protection gap for large-scale industrial units and infrastructure projects,complementing on our War Cover in a landmark move towards national self-reliance and securing India’s strategic interests,” said Girija Subramanian, CMD, NIA.

As logistics routes are rerouted and energy prices fluctuate, the cost of reinstatement for industrial assets has risen, necessitating a more disciplined approach to underwriting and risk management, added Subramanian.

“Furthermore, these tensions have heightened the demand for specialised protection. We are seeing a fundamental shift where war and political violence covers are no longer viewed as optional extras but as core components of a resilient risk management strategy,” highlighted Subramanian.

“As India’s premier multinational insurer, NIA is leveraging its robust balance sheet and international presence to provide stability to our corporate partners amidst this global uncertainty. In direct response to these evolving risks,”

Subramanian also highlight the operationalisation of the Rs1000 crore Bharat Maritime Pool(BNP), formed by the Indian non-life re/insurers, backed by the Government of India’s Rs 1300 crore sovereign guarantee.

NIA has provided almost Rs 100crore while GIC Re has provided Rs 400 crore of capacity to the BNP.

“In an era, where global maritime routes are increasingly susceptible to geopolitical shifts and international reinsurance volatility, this pool serves as a critical shield for our national fleet,” explained Subramanian.

“As a lead insurer, NIA is at the forefront of this initiative, providing muchneeded indigenous capacity for protection and indemnity and hull risk. By localising this capacity, we are reducing our dependency on overseas markets and ensuring that Indian shipowners have access to stable, uninterrupted cover, even during global crises. This initiative is not merely a business expansion, it is our long-standing commitment to the “Atmanirbhar Bharat” vision, ensuring that the lifelines of our nation’s trade remain protected by a robust India-led insurance framework,” elaborated Subramanian.

In India, most standard insurance policies exclude “war and war-like situations” unless a special cover or endorsement is purchased.

The main insurance policies that can provide war cover are:

-Marine Cargo Insurance:War risk can be added through a separate “War Risk Clause” or endorsement for cargo shipped through high-risk zones.
-Marine Hull Insurance:Covers ships/vessels against war-related damage, seizure, mines, terrorism, etc. Indian insurers like New India Assurance offer dedicated Marine Hull War Risk policies.
-Aviation Insurance:Airlines and aircraft operators can buy separate aviation war-risk covers for aircraft damage, terrorism, hijacking and conflict-zone operations