The Kenya TradeNetwork System for application of local marine cargo insur-ance is up and running, the Kenya Trade Network Agency has said.
The state agency mandated to facilitate the new government initiative yesterday said importers and insurance firms can now process marine covers online, under the government’s new policy for mandatory local underwriting for all imports. e new law, which came into effect on January 1, requires imports to be covered locally, under section 20 of the Insurance Act, Cap 487.“ e KenTrade system is up and running,” head of corporate communi-cations Ann Odero said yesterday.
She said KenTrade is working with other industry stakeholders including State department for Maritime and Ship-ping Aff airs, Kenya Revenue Authority and the Association of Kenya Insurers to implement the rule.Marine Cargo Insurance policy pro-vides indemnity against loss or damage for goods being transported by sea or air and incidental land transportationFirst time users of the system are required to get access credentials by contacting KenTrade to procure the marine cover insurance certifi cate from their preferred Insurance Company.
is process will be done outside the National Electronic Single Window System, KenTrade said yesterday.“ Upon issuance of the MCI ,the trader, insurance company will be required to submit to KRA and any other partner government agencies the certificate through the Kenya TradeNet System,” Odero said. e application through KenTrade is intended to allow KRA and other government agencies to view the marine cargo insurance certificate electronically in the course of cargo clearance.
The Shippers Council of East Africa has tasked insurance firms to install a 24-hour automated system interlinked to government clearing systems to facilitate the cover uptake.“Without connectivity, cargo owners will face an uphill task while acquiring local marine insurance,” chief executive Gilbert Lang’at said.
Source: The Star

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