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India extends approval for Iranian insurers to cover ships at India's ports

January 6, 2014 - 6:00am

India has extended approval for Iranian ship underwriters Kish P&I Club and Moallem Insurance Co. to cover Iranian ships calling at India's ports, Fars News Agency reports.

The approval, which had lapsed on Sep. 27 2013, has been extended by six months.

India has also accepted Iran's request for some more time on a 20.3 billion Indian rupee ($326 million) bank guarantee sought by India as a pre-condition to permit insured vessels to enter Indian ports, Fars News Agency reported.

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