Marine Insurance

Marine Insurance

Why Marine Cover is perfect for you 


In today's global market, transporting goods is essential as it is risky. Our Marine Cargo insurance ensures your cargo's protection every step of its journey, from the vast oceans to storage facilities. Whether by sea or air, you are covered.


  • Global Reach: Our insurance policy keeps pace with international trade's fast-paced and unpredictable nature.
  • Mandatory in Kenya: Local regulations require a Marine insurance certificate for customs clearance. Stay compliant effortlessly.
  • Comprehensive Options: We have tailored solutions to fit whether you need coverage for a single shipment or regular imports and exports.

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More about the product

Our Warehouse-to-Warehouse insurance policy covers physical loss of or damage to your goods from external causes, including the following:

  • · Expenses incurred to prevent or mitigate a loss.
  • · General Average losses and General Average contributions.
  • · Landing, warehousing and forwarding charges incurred as the result of an insured peril.
  • · Loss or damage resulting from war risks, strikes, riots and/or civil commotion.
  • · Theft and Hijacking.
  • · Shortage and Non-delivery.
  • · Loading and unloading

We understand the issues that impact your business, including just-in-time delivery, supply chain complexities and business interruption exposures. And we tailor our terms and conditions to suit specific transportation and protection needs.

Complete Journey Coverage: From the moment goods are on the move till they arrive, covering all possible risks and challenges.


Certified Excellence: Experience the security of an ‘A+’ rated company by the Global Credit Rating Agency, ensuring your cargo's best care.


Tailored Solutions: Whether you require All-Risk, Basic, or Restricted coverage, Marine Cargo insurance provides distinct options to cater to your needs.


Extended Safeguards: Need coverage beyond the standard? We offer extensions like transhipment, concealed damages, and extended storage.

In the 2016/2017 budget statement the Minister for Finance directed KRA (Kenya Revenue Authority) to ensure compliance with the Insurance Act Section 20, that requires placement of Kenyan Insurance business locally.


Following various consultative meetings between Kenya Revenue Authority (KRA), Kenya Association of Manufacturers (KMA), Association of Kenya Insurers (AKI) and other Stake holders, an implementation process was agreed upon and a roll out date of 1st Jan, 2017.


KENTRADE was appointed as the Implementing Agency through their Single Window system.

The following was agreed upon as the implementation process:-

  • All importers are required to register on the Ken Trade Portal (Single Window System) through the assistance of their clearing agents or directly.
  • Insured to select preferred insurer from the list uploaded in the Ken trade system, it is assumed the client will have engaged with the insurer or agent before hand to know the pricing offered.
  • Once the importer has Keyed in their Personal details, and select preferred insurer from the list uploaded in the Ken trade system, the application is submitted online. The Underwriter will get an e- alert on the request upon which officers from the Insurer will verify the details in the Ken trade system and provide details of Premium, certificate number , stamp duty and other details
  • Once the Insurer approves, the system will auto generate the Marine Cargo Insurance certificate (MCI) for clearing purposes and will have details of the officers from the Insurance company. All Insurers have provided details of their officers to Ken trade


Early in January it was possible to clear goods using the Manual Marine certificates, since most importers and clearing agents had not been assigned password in Ken Trade , however, as from mid of Jan, 2017 no imports initiated from 1st Jan are being cleared without the online certificate.

 

CUSTOMER REGISTRATION PROCESS IN KENTRADE

The following are the Key steps in the registration process:-

  • Either the Importer or their Clearing agent can register Shipment in the Portal
  • The Importer will be required to contact Ken trade for registration and training, they can be contacted via [email protected] or Tel. 4965000
  • Upon the Importer acquiring the access Credentials they will be required to capture details of each shipment in the portal and indicate the insurance company they are working with and intermediary where applicable. 
  • Insurer/Underwriter will compute Premium and approve the online requisition.
  • The Importer & Insurer can view and Print online certificate which can be presented to customs for Clearance of goods

 

NB: It is Important to note that only Marine Cargo Insurance certificates, issued through Ken Trade Portal are Valid for Cargo clearance by KRA officials.

Relevant Documents and Forms

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James Doe, 34
13 years experience