{
  "id": 14924948,
  "title": "India: Shipping ministry unveils 2 specialised credit risk insurance products",
  "url": "https://urgent.news/2026/10/16/india-shipping-ministry-unveils-2-specialised-credit-risk-insurance",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-16T10:00:47.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/india-shipping-ministry-unveils-2-specialised-credit-risk-insurance-products/"
  },
  "original_language": "en",
  "account": null,
  "summary": "The Shipping Ministry of India has introduced two specialized insurance products aimed at supporting the country's shipbuilding industry under the National Shipbuilding Mission. The first, Shipbuilding Project Credit Risk Insurance Policy (SbPCP), developed by ECGC Ltd, covers export projects, while the second, Business Credit Shield Policy Shipbuilders (BCSPS), developed by The New India Assurance Co Ltd, protects domestic projects. These policies, part of the Shipbuilding Development Scheme (SbDS), are designed to alleviate financial stress during large-scale ship manufacturing. Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal unveiled these policies during the 21st Maritime State Development Council (MSDC), emphasizing the government's commitment to reducing financial risks associated with shipbuilding. The central government will subsidize insurance premiums and assist insurers in handling claims.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}