Marine businesses in Chindwin River basin not interested in insurance: MI

Ferries mooring on the Chindwin River in Sagaing Region. Photo: Win Oo (Zeyartine)
Ferries mooring on the Chindwin River in Sagaing Region. Photo: Win Oo (Zeyartine)

Marine businesses in the Chindwin River basin have shown a lack of interest in marine insurance, said U Tin Maung Than, regional Manager of Myanma Insurance (Sagaing Region).
“Some vessels are linked with private insurance businesses. Myanma Insurance has been facing difficulties persuading them to buy marine cargo insurance and marine hull and machinery insurance. We are still trying to convince them. Most of the marine businesses along the Chindwin basin do not have insurance,” said U Tin Maung Than.
When state-owned cargo is transported on the Chindwin River basin, it is insured, he said. “But, private entrepreneurs choose private insurers over MI. Small businesses do not even insure cargo as the volume loaded on vessels is low,” he added. — Win Oo (Zeyartine) (Translated by Ei Myat Mon)

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