The National Insurance Commission (NIC) has suspended the implementation of a 10% increase in motor insurance premiums.
In a letter dated January 29, 2025, Acting Commissioner of the Insurance Commission, Michael K.
Andoh, explained that the new motor tariff is currently on hold due to unforeseen circumstances.
He advised the Ghana Insurance Association and the Insurance Brokers Association to price their motor policies using the 2024 approved tariff.
