The War and Strikes in respect of Hull and Machinery and subsidiary interests i.e., Freight, Disbursement/Increased Value and Premium Reducing in respect of Indian Flag vessels are covered under the erstwhile Government of India War Risks Insurance Scheme. Since 2005, this Scheme is administered by the GIC. War risks on other interests, such as Loss of Hire, Loss of Profits etc., are excluded from this Scheme. They are covered separately. War risks Policy can be issued by both the private and Public Sector Insurance Companies.