Cost of imported goods to reduce with advances in maritime insurance

56 views · Published 11 January 2017 · 2:36 · Indexed 22 September 2026

Channel: KBC Channel 1 · 2017 · News & Politics

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The cost of imported goods is expected to reduce as local insurers begin absorbing risk involved in marine cargo from the point of purchase. Importers are urging insurance firms to charge low premiums given the low risk associated with marine cargo transport in order to maximize on the impact of the new requirement on marine insurance. Shipping and Maritime Principal Secretary Nancy Karigitu says the new requirement will help boost custom revenue by eradicating cases of tax evasion.
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