Regulator pushed to suspend marine insurance

Navig8 Martinez Vessel with fuel destined for Uganda. Law wants such cargo to be insured locally. [Omondi Onyango, Standard]

Key private sector players have jointly submitted a memorandum seeking the suspension of the mandatory requirement for local marine cargo insurance until critical concerns are addressed.

The requirement, which took effect on February 14, 2025, has sparked opposition from the private sector, which argues that its implementation should be postponed until stakeholders' concerns are comprehensively addressed.