02 Dec 2019

MARINE INSURANCE TO BECOME LOCAL AND COMPULSORY FOR TRADERS – IRA

Importers and exporters will have an opportunity to access marine insurance locally starting 1st January next year (2020) according to the Insurance Regulatory Authority of Uganda.

The idea is provided for in the insurance Act of 2017 and according to Alhaji Kaddunabbi Ibrahim Lubega, the Authority’s Chief Executive Officer, this will be optional for the first 5 months but then become compulsory stating 1st June 2020.