THIS WEEK: CIC Insurance to sell insurance in the extractive industry
Kampala, Uganda | THE INDEPENDENT | Regional insurance firm, CIC Insurance, is set to unveil a comprehensive cover targeting mining, oil and gas industry players, according to Kenya’s Business Daily.
Group general manager for marketing and distribution, Joseph Kamiri, said on Nov 23 during the Association of Insurance Brokers of Kenya (AIBK) 12th annual conference in Kwale, that underwriter had invested in technical capacity including industry experts and the necessary global reinsurance linkages useful for providing mining insurance cover.
“Our solution focuses on all mobile assets, and can cover all machinery and equipment either above ground and underground,” he said. “We are also carrying out workshops, training the providers in the relevant risk elements of their businesses and participating in industry fora to enhance awareness about this critical solution.”
Kenya’s nascent industry is forecast, by the Ministry of Mining, to reach Ksh100 billion annual value in the next few years.