Kenya Mandates Local Marine Cargo Insurance for Importers by 2025

Starting February 14, 2025, all Kenyan importers will be required to obtain Marine Cargo insurance from local firms, a move aimed at promoting local insurance companies. This directive, supported by amendments to the Marine Insurance Act, mandates that digital insurance certificates be submitted at ports of entry via local platforms. However, the Car Importers Association of Kenya has opposed this requirement, arguing that it infringes on importers' rights and may lead to higher costs for consumers. Meanwhile, the International Union of Marine Insurance has voiced concerns regarding protectionist trade measures, such as tariffs, which they argue hinder global trade and create challenges for marine insurers. They highlighted ongoing geopolitical tensions that impact maritime operations and the importance of adopting technological advancements to improve risk management in the industry. The IUMI also reaffirmed its commitment to free trade, emphasizing that restrictions could strain supply chains and insurance values.