• War risk coverage: General Insurance Corporation and reinsurers have withdrawn hull war risk coverage, causing marine insurance costs to surge, while marine cargo and aviation protections remain operational. In response to evolving geopolitical risks, New India Assurance has introduced standalone war risk cover for properties and integrated cyber sabotage coverage.
• Parametric NatCat insurance: Trigger-based parametric covers are gaining adoption across property, renewable energy, and dairy sectors to address rising natural catastrophe risks. These policies disburse pre-agreed compensation digitally without requiring surveyors or physical documentation once defined triggers—such as specific rainfall, wind speed, or temperature thresholds—are breached.
• Surety bonds expansion: Insurance surety bonds are increasingly replacing traditional bank guarantees across infrastructure, mining, and oil exploration, freeing up contractor capital because no collateral is required. Government entities like NHAI and NHPC now accept these instruments for up to five years, supported by the development of a central data repository.
• Bima Trinity initiative: The regulator's Bima Trinity framework aims to achieve universal insurance access by 2047 across three pillars: the Bima Sugam digital marketplace, the bundled Bima Vistar policy, and the Bima Vahak women-led rural distribution network.