How to Buy Marine Insurance

The Cabinet Secretary (CS) in his June 8 2016 budget speech had called for implementation of Section 20 of the Insurance Act, CAP 487. It requires Importers to produce proof of local marine insurance before goods can be cleared by KRA or inspected at the source country. Implementation date is 01/01/2017 and will be overseen by Kenya Revenue Authority (KRA) . It affects all imports initiated from 01/01/2017. A committee formed to operationalize this section of the law (consisting of KRA, KENTRADE, IRA representatives of Insurance companies) has tentatively agreed on the following process flow;   Step I Go to Fidelity Insurance Website to access the Marine Insurance Portal to get a quotation or contact your insurance agent/broker to request for a quote on your behalf from Fidelity Insurance.   Step II The client or their clearing agent will log into the Kentrade system portal and access the marine cargo insurance (MCI) management link. The system will automatically create a Unique Consignment Reference (UCR). They will proceed to MCI application by providing key information. The system is user friendly and will offer required assistance. KenTrade system will automatically alert the preferred insurance company (Fidelity Insurance), who will issue the MCI certificate immediately. The insurer will then upload the MCI certificate into the KenTrade system and click ‘SUBMIT’. This will automatically change the status of the MCI application in the system to ‘ACCEPTED’. -KRA will then be able to view or access the MCI certificate on their Simba system – through or using the UCR link. KenTrade has been training insurers, clearing agents etc. and allocating passwords and can be contacted for any assistance. FAQ’s