A Zambian Insurance Company has called on the Zambian government to quickly regulate marine insurance cover.
Speaking in an interview with Money FM News Professional Insurance Managing Director Moses Siame says it is important that marine insurance is made compulsory because Zambia is a net importer.
Mr Siame says the fact that marine insurance cover is not compulsory makes it difficult for Zambian importers to make clams when need arises.
And Mr Siame has also disclosed that the insurance firm managed to pay clams in excess K949 million in 2019.
He says the company recorded a gross written premium in excess of K462 million in 2018 compared to k424 million in 2017.
Mr Siame also says the firm recorded a good financial performance of 9 percent in 2018 as compared to 2017.
Mr Siame says profit after tax increased to K22.9 million from K21.6 million in 2017.