Resolution Insurance unveils Marine Insurance.

 

 

Resolution insurance has launched a comprehensive marine insurance cover dubbed ‘Resolution Marine Cargo’ in a move to offer transit policy into the market that provides a one-stop shop solution for all marine insurance needs.

“Resolution marine insurance will ease safety concerns of importers, manufacturers and logistics providers. As we continue to grow, we understand that the needs of our customers also continue to become diverse. It is, therefore, our delight that we continue meeting our client’s needs and giving them convenience.” said Mr. Peter Nduati, Resolution Insurance Group Chief Executive Officer while Speaking during the event held in Mombasa

The cover can be purchased via the company’s website.

Some of the unique features of the policy include a comprehensive policy that insures goods against loss or damage, Caters for legal liabilities for general average and rescue where applicable whilst on transit by means of the specified conveyances (sea, air or land) within the geographical limits and conditions specified in the policy.

The move comes at a time when a new law compelling importers to buy policy from local players came into effect in January 2017. The directive is seen as one meant to boost the insurance penetration in the country which currently stands at 3 percent.

The Kenya Maritime Authority Acting Director General-Mr. Cosmas Cherop commended Resolution Insurance for demonstrating their willingness to tap into the rich marine industry adding that they are working to support the new product and ensure that the new Resolution Marine Cargo serves its intended purpose.

Resolution Insurance currently has a network of over 10 branches in major towns in the country.

The company has a reach in Kenya, Uganda, Tanzania and South Sudan

In November 2014, Resolution Insurance announced a major deal worth Kshs 1.67 billion) for a majority stake by LeapFrog Investments. The insurer offers a number of products namely Medical Plans, Travel Plans, Liability Plans, Property Covers, and Motor Covers.