UPSC Prelims Practice Questions — Bharat Maritime Insurance Pool Workshop Held in Mumbai

Q1. What is the amount of sovereign guarantee extended by the Union Government to the recently launched Bharat Maritime Insurance Pool (BMIP)?

• A. ₹9,870 crore
• B. ₹12,980 crore
• C. ₹15,640 crore
• D. ₹18,200 crore

Q2. With reference to the Bharat Maritime Insurance Pool (BMIP), which of the following institutions is/are NOT among the official partners associated with its launch and the Mumbai workshop?

1. Directorate General of Shipping
2. General Insurance Council
3. Securities and Exchange Board of India (SEBI)
4. Department of Financial Services

• A. 1 and 3 only
• B. 2 and 4 only
• C. 3 only
• D. 1, 2 and 4 only

Q3. Which one of the following Union Government entities operationalises the Bharat Maritime Insurance Pool (BMIP)?

• A. Directorate General of Shipping, Ministry of Ports, Shipping and Waterways
• B. Insurance Regulatory and Development Authority of India (IRDAI)
• C. Department of Financial Services, Ministry of Finance
• D. General Insurance Council under the Insurance Act, 1938

Q4. How many distinct classes of maritime risk are presently covered under the Bharat Maritime Insurance Pool (BMIP)?

• A. Two
• B. Three
• C. Four
• D. Five

Q5. Consider the following maritime risks. Which of the above are NOT typically covered under a Protection & Indemnity (P&I) insurance cover offered by the International Group P&I Clubs?

1. Oil pollution liability arising from the insured vessel
2. Hull and machinery damage to the insured vessel from grounding
3. Crew injury and repatriation expenses
4. Loss of the insured vessel due to war and warlike operations

• A. 1 and 3 only
• B. 2 and 4 only
• C. 1, 2 and 4
• D. 3 only

Q6. The International Group of Protection & Indemnity (P&I) Clubs, which provides marine liability cover to the largest share of the world's ocean-going tonnage, is primarily headquartered in which one of the following cities?

• A. London
• B. New York
• C. Singapore
• D. Tokyo

Q7. In the context of the Bharat Maritime Insurance Pool (BMIP), the term 'Protection and Indemnity (P&I)' insurance most accurately refers to cover for which one of the following?

• A. Physical damage to a vessel's hull, machinery and on-board equipment
• B. Third-party liabilities of the shipowner such as oil pollution, wreck removal, crew injury and cargo damage claims
• C. Loss of or damage to goods being transported as cargo on board a vessel
• D. Losses to the vessel and cargo arising from war, strikes, riots and political violence at sea

Q8. With reference to the Sagarmala Programme of the Government of India, which of the following is/are NOT among its officially identified pillars?

1. Port Modernization and New Port Development
2. Coastal Community Development
3. Sovereign Maritime Insurance Coverage
4. Coastal Shipping and Inland Water Transport

• A. 1 and 3
• B. 3 only
• C. 2 and 4
• D. 1, 2 and 4

Q9. Under the Maritime Amrit Kaal Vision 2047 (MAKV) of the Ministry of Ports, Shipping & Waterways, what is the targeted domestic shipbuilding capacity that India aims to achieve by 2047?

• A. 1 million GRT
• B. 2 million GRT
• C. 4 million GRT
• D. 10 million GRT

Q10. With reference to the Bab el-Mandeb Strait, which figured prominently in the rise of war-risk premiums that prompted India's Bharat Maritime Insurance Pool, consider the following countries: 1. Yemen 2. Djibouti 3. Eritrea 4. Oman Which of the above share a coastline along the Bab el-Mandeb Strait?

1. Yemen
2. Djibouti
3. Eritrea
4. Oman

• A. 1 and 2 only
• B. 2, 3 and 4
• C. 1, 2 and 3 only
• D. 1, 3 and 4

Q11. In the context of the Red Sea/Houthi crisis that triggered the launch of the Bharat Maritime Insurance Pool (BMIP), consider the following risks: 1. Hull and Machinery risk 2. Cargo risk 3. Protection and Indemnity (P&I) risk 4. Cyber-attack liability risk Which of the above is/are NOT among the maritime risks presently covered under the BMIP?

1. Hull and Machinery risk
2. Cargo risk
3. Protection and Indemnity (P&I) risk
4. Cyber-attack liability risk

• A. 1 only
• B. 2 and 3
• C. 3 only
• D. 4 only

Q12. Which one of the following is the sole statutory authority empowered to issue, renew, suspend or cancel the certificate of registration of an insurer in India?

• A. Insurance Regulatory and Development Authority of India (IRDAI)
• B. General Insurance Council
• C. Life Insurance Council
• D. Reserve Bank of India

Q13. With reference to the General Insurance Council of India, consider the following statements:

1. It is a statutory body constituted under the Insurance Act, 1938.
2. Standalone health insurers, reinsurers and Foreign Reinsurer Branches registered with IRDAI are its members.
3. It functions as a Self-Regulatory Organisation for the non-life insurance industry.
4. It is the apex authority that grants the certificate of registration to general insurance companies in India.

• A. 1, 2 and 3 only
• B. 1 and 3 only
• C. 2, 3 and 4 only
• D. 1, 2, 3 and 4

Q14. With reference to the Directorate General of Shipping (DGS) and related maritime bodies in India, consider the following statements:

1. Unlike the Indian Coast Guard, which functions under the Ministry of Defence, the Directorate General of Shipping is an attached office of the Ministry of Ports, Shipping and Waterways.
2. Unlike the Indian Register of Shipping (a classification society), the Directorate General of Shipping derives all its powers exclusively from Section 7 of the Merchant Shipping Act, 1958.
3. While the Indian Maritime University was set up by a 2008 statute, the Directorate General of Shipping was established in 1949 with its headquarters at Mumbai.

• A. 1 only
• B. 1 and 3 only
• C. 2 and 3 only
• D. 1, 2 and 3

Q15. Indian-flagged merchant vessels are registered, surveyed and certified under the Merchant Shipping Act, 1958 by which one of the following statutory authorities?

• A. Indian Ports Association
• B. Directorate General of Shipping
• C. Indian National Shipowners' Association
• D. Indian Register of Shipping