Reinsurance companies say they have little cause for satisfaction following the introduction of the new Marine Insurance Act.

Section 20 of the Insurance Act, which obliges local importers of goods to insure their goods with local insurance companies, does not contain any provision requiring companies to reinsure ocean freight from local reinsurance companies.

Link:https://www.standardmedia.co.ke/business/article/2001234106/new-maritime-law-fails-to-excite-re-insurance-firms