Insurance firms to chart marine cargo plan

The newly installed gantry cranes off-loads some of the containers from the MV Busan Trader soon after she docked at the port of Mombasa's second container terminal on Tuesday, April 27, 2016. Operations at the new second container terminal started after first container vessel of over 2000 TEU capacity went alongside berth 21. This comes barely two months after the contractor handed over the 550,000 TEUs 1st phase of the Second Container Terminal project to Kenya Ports Authority. [PHOTO BY GIDEON MAUNDU/STANDARD].

Insurance firms are set to meet this week after manufacturers raised concerns over their capacity to insure marine cargo.

The Kenya Association of Manufacturers (KAM) last week questioned local firms’ capacity to offer the product ahead of the new law that compels exporters and importers to get local marine cargo cover by January next year.