Directive on local marine cargo insurance takes effect

Starting 1 January 2017, all marine cargo imports must be locally insured. This is in line with Section 20 of the Insurance Act Cap.487.

The operationalisation of this section of the Insurance Act was triggered by the directive from the Cabinet Secretary, National Treasury during the budget speech in June 2016. The CS directed Kenya Revenue Authority (KRA) to work with relevant stakeholders to ensure that imports are locally insured.

AKI was involved with other industry stakeholders including the State Department for Maritime and Shipping Affairs, Kenya Trade Network Agency (KenTrade), KRA and Intergovernmental Standing Committee on Shipping (ISCOS) to implement the directive.

Importers can now make online application for Marine Cargo Insurance (MCI) via a portal on the Kenya TradeNet System operated by KenTrade.

AKI in partnership with KRA, KenTrade and Shippers Council of Kenya have been and will continue training stakeholders even as they work towards creating an integrated platform that shall offer importers opportunity to conveniently buy marine cargo certificate and also settle claims online.