Liberty General Uganda and Multilines International Limited on Friday officially launched the Marine and Cargo Insurance.
The Marine and Cargo Insurance follows an announcement by the Government mandating that all cargo imported into Uganda must be insured by local insurance firms.
It must be recalled that on 1st July 2022, the government through the Uganda Revenue Authority (URA) in partnership with the Insurance Regulatory Authority (IRA) imposed a law mandating that all cargo imported into Uganda by sea, air, rail or road must be insured by locally owned insurance companies.
The law was intended to protect Ugandan importers and exporters whose goods were covered by offshore insurers facing long and complicated processes, especially when filing insurance claims. In Uganda, shippers shall pay marine insurance through locally licensed insurance companies.
Speaking at the launch held at the Kampala Serena Hotel, Peter Makhanu, Managing Director at Liberty General Uganda, stated that the partnership will assist businesses cover losses associated with importation.
“At Liberty General Uganda, we are proud of our effort to ensure that every customer’s needs are taken care of. We strongly believe that Marine and Cargo Insurance will help cover the costs associated with property damage and liability claims to importers. Without insurance, importers and business owners may have to pay out-of-pocket for costly damages and legal claims while trying to recover the loss”.
The Group Managing Director / CEO of Multilines International Limited, Gerald Mukyenga noted that joining forces with Liberty General Insurance Uganda Limited will make Uganda’s insurance industry and economy a success.
“We are duly registered and licensed diverse Cargo Freight and Transport Logistics Organization with its Head Office in Kampala, Uganda. We pride ourselves in being able to move cargo to and from anywhere in the world by leveraging our capabilities and those of our International Network Partners. Since its incorporation in Uganda in 2002, working with our own Regional Group and Associate Companies in Kenya, Tanzania, Rwanda, Burundi and South Sudan, as well as International Network Partners, we have risen to become a premier operator regionally and globally,” he said.
Meanwhile, Liberty General Uganda is a pan-African financial services company, offering asset management, investment, and general insurance and health products to 3.2 million people across Africa.
In Uganda, Liberty General has over ten years of operations offering a comprehensive general and financial services suite built to meet our customer’s needs at every step of their life journey.
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