Uganda Revenue Authority in collaboration with the Insurance Regulatory Authority (IRA) and Uganda Insurers Association recently sensitized clearing and forwarding associations on the upcoming Local Marine Insurance Platform.

Brenda Wenene, the Acting Assistant Commissioner of Trade urged members of Uganda Clearing Industry and Forwarding Association (UCIFA), Federation of Uganda Customs Agents (FUCAFF), and Uganda Freight Forwarders Association (UFFA) to learn the new processes to facilitate clients.

“This platform will enhance the economy and facilitate the business community. Be proactive in understanding this change as lack of knowledge will make it costly and tedious for importers,” Wenene stated.

Meanwhile, the Local Marine Insurance rollout follows the Ministry of Finance directive requiring importers to secure insurance from locally licensed companies before clearing goods.

URA will implement this policy, ensuring all cargo imported by sea, air, rail, road, or registered post is insured locally.

Alhajji Jaffer Abdallah, the UCIFA National Chairman noted that over 1,000 clearing agents have been sensitized since 2022. Importers can obtain Local Marine Cargo Insurance through preferred insurers, intermediaries, or the Marine Cargo Insurance portal on www.uia.co.ug.

This policy aims to protect importers against financial losses during transit allowing them to make claims locally in case of unforeseen incidents.

By Jacinta Obore Mirembe