Promotion of marine insurance in Uganda
Uganda Insurance Association (UIA) has embarked on an awareness-raising campaign for the benefit of Ugandan importers, a move designed to prompt the latter to underwrite marine cargo policies.
This campaign comes upon promulgation of a law authorizing local insurance companies to underwrite this kind of coverage. The same law compels importers to underwrite a local insurance with Ugandan insurers and to settle premiums in national currency. The campaign has been designed to restrict recourse to foreign insurers and to reduce outflow of foreign currency.
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