The National Insurance Commission (NIC) has temporarily suspended the implementation of new rates for third party motor insurance policy.<\/p>\n
[contextly_sidebar id=”Fy74oHTYedg5fn1GFGrBHIui22BtA6uN”]The Ghana Insurers Association on Monday 8th June, 2015 announced it had reviewed upwards the price for third party motor insurance tariffs effective from yesterday 9th June,2015.<\/p>\n
For a breakdown of the new policy, annual premium for third party insurance for example now costs, GH\u00a2471 for private cars, which prior to the review was at GH\u00a270; while that of taxis have been priced at GH\u00a2576 per annum.<\/p>\n
Commercial buses also known as trotro\u2019s will also pay GHC 586 and motorcycles will also pay GH 256 for insurance annually.<\/p>\n
But the insurance commission received heavy backlash from car owners and commercial drivers who threatened to strike if the new rates were implemented.<\/p>\n
Yesterday 9th June, 2015, however the National Insurance Commission announced the increment has been suspended for now.<\/p>\n
According to the commission the suspension is to allow for broader consultation with stakeholders.<\/p>\n
It is however unclear how long the implementation of the new rates will be put on hold.<\/p>\n
–
\nBy: Vivian Kai Lokko\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
The National Insurance Commission (NIC) has temporarily suspended the implementation of new rates for third party motor insurance policy. [contextly_sidebar id=”Fy74oHTYedg5fn1GFGrBHIui22BtA6uN”]The Ghana Insurers Association on Monday 8th June, 2015 announced it had reviewed upwards the price for third party motor insurance tariffs effective from yesterday 9th June,2015. For a breakdown of the new policy, annual […]<\/p>\n","protected":false},"author":14,"featured_media":9966,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[19],"tags":[4],"class_list":["post-123551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/123551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=123551"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/123551\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/9966"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=123551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=123551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=123551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}