Audio By Carbonatix
Chief Executives of insurance companies which insure motor vehicles are to meet to deliberate on the suspension of the implementation of new rates for motor insurance.
The increased premiums were supposed to have come into effect Monday, May 10, 2010, but were suspended to allow for what the National Insurance Commission calls, further consultations.
Today’s meeting follows another yesterday by the General Insurance Council at which members expressed disappointment at the suspension of the new premiums.
The Chief Executives attending today’s meeting are expected to state their position on the suspension and what they intend to do in the face of the decision.
Source: Joy business
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