Resolution Insurance launches Marine Cargo Insurance Cover

Resolution insurance has today launched a comprehensive marine insurance cover for importers, manufacturers and logistics providers. Dubbed ‘Resolution Marine Cargo’ the cover will offer affordable transit policy into the market that provides a one-stop shop solution for all marine insurance needs.

According to Resolution Insurance Group Chief Executive Officer Mr. Peter Nduati, the launch is in line with the insurer’s business strategy on financial inclusion and deepening insurance penetration in the country.

“Resolution marine insurance will ease safety concerns of importers, manufacturers and logistics providers,’’ Mr.Peter said during the launch in Mombasa.

‘’As we continue to grow, we understand that the needs of our customers also continue to become diverse. It is, therefore, our delight that we continue meeting our client’s needs and giving them convenience.”

The insurance cover features a comprehensive policy that insures goods against loss or damage, Caters for legal liabilities for general average and rescue where applicable whilst on transit by means of the specified conveyances (sea, air or land). This will depend on the geographical limits and conditions specified in the policy.

Speaking during the event, the Kenya Maritime Authority Acting Director General-Mr. Cosmas Cherop commended Resolution Insurance for demonstrating their willingness to tap into the rich marine industry adding that they are working to support the new product and ensure that the new Resolution Marine Cargo serves its intended purpose.

The move comes at a time when a new law compelling importers to buy a policy from local players came into effect in January 2017. The directive is seen as one meant to boost the insurance penetration in the country which currently stands at 3 per cent.

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