Marine Cargo Conference and Exhibition set for Nairobi

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State Department of Maritime and Shipping Affairs has partnered with Standout Ventures (EA) Ltd to organize the first ever Marine Cargo Conference & Exhibition that is to take place from 25Th-26Th May 2017 at Radisson Blu Hotel, Nairobi, Kenya.

Since section 20 of the Insurance Act, CAP 487 came into effect in January 01, 2017;it has been mandatory for importers, brokers, agents and other persons in the shipping business to procure insurance services for imports into the country from local insurance companies. The beneficiaries of this Government policy are, in no particular order, the country of Kenya, shippers (importers and exporters) and Kenya’s insurance industry. There is co-relation between marine insurance and the development of shipping, finance and the economy generally.

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Since the requirement came into force it has become apparent that public awareness and education, specifically to shippers [importers and exporters] on international commercial terms (INCOTERMS) as well as the benefits of insuring locally must be intensified. Simplifying access and affordability of marine insurance by leveraging the full extent of information technology and the mobile phone revolution are also important in making products easily available and accessible.