Audio By Carbonatix
Motor insurance tariffs are set to go up marginally from February 16, 2026, following approval by the National Insurance Commission (NIC).
The NIC has authorised the new charges to apply to all non-life policyholders, a move sources say has been influenced by recent economic developments.
According to the sources, the adjustment is expected to help insurance companies meet their obligations to policyholders when claims arise.
JOYBUSINESS understands the review will affect all categories of non-life insurance policyholders.
A letter from the NIC, sighted by JOYBUSINESS, has also reminded industry players to strictly adhere to the approved rates.
The Commission further indicated that it will update the motor insurance database accordingly to reflect the changes.
However, it remains unclear how the increase could affect the operational costs for commercial drivers, and whether it could complicate ongoing efforts to persuade transport operators to reduce fares.
Latest Stories
-
AGOA one-year extension shields thousands of Jobs – Trade Minister
2 seconds -
Ghana Prisons Council engages Interior Minister on collaboration and operational support
14 minutes -
Trade Ministry claims diplomatic victory as U.S. extends AGOA for Ghana
16 minutes -
Author Ralph appointed to lead Global Youth Network of World Conference of Mayors
23 minutes -
My gov’t inherited a fragile economy and failing governance system – Mahama
44 minutes -
Ghana to establish first modern fire assay laboratory to boost gold value chain – Ato Forson
50 minutes -
National Labour Commission orders university staff unions to suspend strike for talks
56 minutes -
Axim fishing community assured as breakwater and sea defence project progresses
57 minutes -
Chief Justice flags Chinese involvement in galamsey, calls for stronger institutional collaboration
59 minutes -
Finance Minister hails Gold Coast Refinery as key step in Ghana’s local gold processing drive
1 hour -
Opoku-Agyemang calls for stronger support for women and youth in Africa’s cross-border trade
1 hour -
Statues won’t save our democracy – Annoh-Dompreh urges Ghana to institutionalise Danquah’s ideals
1 hour -
Agric Minister unveils local post-harvest equipment to strengthen Ghana’s farming
1 hour -
Ghana’s gold refinery kick-starts, but ‘galamsey gold’ risks shutting out premium buyers
1 hour -
DV plate costs GH¢417.25, not inflated rates – DVLA boss clarifies
1 hour