Resolution insurance has launched a marine insurance cover dubbed ‘Resolution Marine Cargo’. Speaking during the launch in Mombasa, Resolution Insurance Group Chief Executive Officer Peter Nduati said the launch is in line with the insurer’s business strategy on financial inclusion and deepening insurance penetration.
“Resolution marine insurance will ease safety concerns of importers, manufacturers and logistics providers. 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.”
Some of the unique features also include 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) within the geographical limits and conditions specified in the policy.
The move comes at a time when a new law compelling importers to buy 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.
The Kenya Maritime Authority Acting Director General, Mr Cosmas Cherop, commended Resolution Insurance for demonstrating 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.
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