Indonesia pushes back mandatory shipment ins.
Saturday, 07 28 2018, Category: Insurance and Reinsurance, Country: Bahrain
Indonesia’s trade ministry has postponed for six months the implementation of regulations requiring shipments of coal and crude palm oil to obtain cover from Indonesian insurers.
This is the second time the rules, which were announced in October 2017 and supposed to come into effect on August 01, have been postponed, Reuters reported. Indonesia is one of the world’s top exporters of coal and palm oil.
The rules are part of Indonesia’s push to prop up its shipping industry and to save its foreign currency reserves.
Source: Insurance Business