The Ministry of Transport has called on insurance companies to come clear on the recent increase in third party insurance premiums.<\/p>\n
The Ministry of Transport has rejected claims that vehicular insurance premiums have gone up by 400%, explaining that they are only aware of a 25% increase in third party insurance premiums which began this year.<\/p>\n
[contextly_sidebar id=”iptmhyfrqa2hvyjtuLIN36b5RrY0R9gv”]However, some drivers calling themselves \u00a0the Progressive Commercial Drivers Union contend that insurance companies increased the premiums by as much\u00a0as 400 percent.<\/p>\n
They have thus threatened\u00a0to embark on strike effective today [ Monday]\u00a0until the\u00a0premiums are reviewed downwards.<\/p>\n
At a press conference last Tuesday, the Ghana Private Road Transport Union GPRTU) and the Ghana Road Transport Coordinating Council (GRTCC), also said their commercial drivers will not work this week if the supposed increase\u00a0is not reversed.<\/p>\n
The drivers threatened a similar action in 2015, arguing that insurance companies do not readily pay claims in the event of accidents, yet are eager to collect claims and increase same arbitrarily.<\/p>\n
The\u00a0Deputy Transport Minister, Joyce Bawa Mogtari, has called for calm and promised to engage the Ghana Insurers Association and the National Insurance Association on the issue<\/p>\n
She also bemoaned the idea of blaming government for increases in insurance premiums and noted that government does not play any role\u00a0in the pricing of insurance premiums.<\/p>\n
\u201cWe\u2019ve gotten to the stage where people want to take unusual steps and the idea is that whatever happens, government must take the blame. What happens in the insurance environment really has nothing to do with government.\u201d<\/p>\n
Joyce Bawa also urged the insurers to explain the increases to\u00a0the public.<\/p>\n
\u201cIf insurance premiums have gone up, I think it is the responsibility of the insurers to explain to the public why premiums are going up at this time,\u201d she stated.<\/p>\n
–<\/p>\n
By Delali Adogla-Bessa\/citfmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
The Ministry of Transport has called on insurance companies to come clear on the recent increase in third party insurance premiums. The Ministry of Transport has rejected claims that vehicular insurance premiums have gone up by 400%, explaining that they are only aware of a 25% increase in third party insurance premiums which began this […]<\/p>\n","protected":false},"author":14,"featured_media":176581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,11,1166],"tags":[],"yoast_head":"\n