Maritime insurers raise issues related to new regulations
Government meets with stakeholders to address challenges
SEYCHELLES: The Seychelles Maritime Safety Authority (SMSA) together with the President and Vice President met with insurance companies yesterday to discuss the new SMSA (Identification of Small Vessels) Regulation, 2023.
Some of the key issues or challenges highlighted included the cost of the premium to be charged by insurers, surveying expenses as well as other requirements for boat owners under the new of the regulation.
President Wavel Ramkalawan accompanied by the Vice-President, Ahmed Afif convened the meeting as an opportunity for the various entities to air their views and openly discuss areas that were unclear or require further discussion.
As a follow-up to the meeting, more robust technical meetings will be held to extend the dialogue further as well as propose solutions for the way forward.
Further consultation with the small boat owners and leisure higher-craft will thereafter be held to explain the regulation in detailed, garner their inputs and agree on a way forward for the benefit of all stakeholders involved.
Speaking to the press after the meeting, Vice-President Afif made a special appeal to all the small boat owners to attend the consultations and share their views so as to ensure that the final regulations are reflective of all voices.
On behalf of the insurers, the Chairman of the Insurers Association of Seychelles, Percy Quatre said the insurance companies were happy to work out cost effective premiums
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