The Insurance Commission has announced that the implementation of the new motor tariff, which was initially communicated in a letter dated 23rd December 2024 to the Ghana Insurers Association (GIA) and the Insurance Brokers Association of Ghana (IBAG), has been put on hold due to unforeseen circumstances.
In a recent communication to the industry, the Commission advised insurers to continue pricing motor policies based on the approved 2024 tariff until further notice.
The Commission clarified that the new tariff will not be enforced until further developments are made, and any updates or changes will be communicated to the relevant stakeholders in due course.
This decision affects all insurance companies and brokers involved in the motor insurance sector, who are now required to adhere to the 2024 tariff rates as they continue their operations.
The Commission assured the industry that any new information regarding the motor tariff will be shared in a timely manner as the situation develops.
Latest Stories
-
NYA CEO demands shisha ban
39 minutes -
SHS girl shot dead at Bimbilla Fire Festival celebration
2 hours -
No firearms at Fire Festival – Small Arms Commission warns
2 hours -
Education Minister promises increase in Students Loan Trust Fund allocation from GH¢70m to GH¢150m
3 hours -
Stronger cedi, lower prices: Decathlon Ghana slashes prices by 35% on over 500 sports items
4 hours -
Zoomlion deepens Africa expansion with strategic partnership in Kenya
4 hours -
Stronger cedi, lower prices: Decathlon Ghana slashes prices by 35% on over 500 sports items
5 hours -
“Love on the Ropes”- Ebo Whyte impresses again with rollercoaster of love, lies and live band fire
5 hours -
Nzema East Blue Water Guards partner Axim police to foil galamsey operations around Draw River Forest Reserve
5 hours -
Minerals Commission orders Heath Goldfields to cease operations at Bogoso-Prestea Mine amidst possible license revocation
5 hours -
Ghana Music Awards Europe adds ‘Best Political Song’ category to 2025 edition
7 hours -
Azumah Resources refutes claims of selling Black Volta Gold Project
7 hours -
GFA boss Kurt Okraku appointed President of CAF Inter-Club Competitions
7 hours -
More HIV patients not on treatment – New report reveals
9 hours -
NSMQ 2025: A deep dive into Bono, Bono East and Ahafo schools eyeing national glory
9 hours