The roadmap for implementation of the Marine Insurance Policy in Uganda has now been moved to July, owing to the effects of COVID-19, according to the Insurance Regulatory Authority.
The Marine insurance cover, targeting imports and export cargo on the seas, is to be insured by a consortium of 21 insurance companies at a premium of 120 Billion shillings.
Daily imports and exports of in and outbound cargo are valued at 105 Billion shillings, in which the Marine Insurance Policy seeks to ensure a 20% saving in value for business owners.
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