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Originally published by The Standard Business
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June 24, 2026
4h ago

Maritime stakeholders call for adoption of marine insurance

Maritime stakeholders call for adoption of marine insurance

Today’s businesses face a complex risk environment that spans global supply chains, geopolitical uncertainty, digital vulnerabilities and climate related disruptions...

✨ Key Highlights

Kenyan maritime stakeholders are urging businesses to increase their uptake of marine insurance as trade volumes grow, warning of significant financial losses due to inadequate coverage for cargo moving through global supply chains.

  • Kenya imports goods worth over Sh2.7 trillion annually, yet marine insurance penetration remains low.
  • James Mbithi, CEO of Britam General Insurance, highlighted the underestimate of financial impacts from global supply chain disruptions.
  • The Insurance Regulatory Authority (IRA) has directed that all imported goods must be insured by locally licensed companies, effective July 1.

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