The National Insurance Commission (NIC) has announced the temporary suspension of the implementation of 2025 motor insurance tariff.
The Commission in a letter to insurance companies said the implementation of the new motor tariff previously announced in a letter dated December 23 2024 to the Ghana Insurers Association (GIA) and the Insurance Brokers Association of Ghana (IBAG), is currently on hold due to unforeseen development.
The Commission advised insurers to continue pricing motor policies using the approved 2024 tariff until further notice.
The Commission assured industry players that it will communicate any further developments regarding the motor tariff in due course.
