Audio By Carbonatix
The National Insurance Commission has suspended the publicized increment of insurance tariffs for commercial vehicles.
This comes in the wake of calls by the Minister of Transport, Mike Hammah for its suspension when he met interest parties on Monday.
“I met the National Insurance Commissioner and she agreed that they haven’t had enough education and sensitization of the public,” he told Joy News’ Dzifa Bampoh.
He explained the implementation was suspended to allow further consultation and sensitization. This, he said, would enable the public understand the need for the proposed increase before it was implemented.
The insurance companies had intended to increase premium payments by an average of 200% for commercial drivers, effective Monday, May 10, 2010, but was opposed by drivers, while the Transport Ministry also said it was not consulted.
A technical committee would therefore be instituted to take a second look at it, Mr Hammah added, explaining that “All the increases have to be justified.”
He said some of the proposed tariffs might be due to inefficiencies on the part of the insurance companies, whilst others might be due to inefficiencies on the part of some government agencies.
“Whatever it is, all these need to be identified,” he noted. However, he said, not only would the new tariff, if it had been implemented, inure to the benefit of the insurance companies, but drivers too would have enjoyed a better compensation benefit.
Mr Hammah disagreed that the new premium would not affect transport cost. He said for the insurance companies to say the “astronomical increase” will have no effect on transport cost “will not be entirely right”, hence the need “to go back to the drawing board to iron” out issues.
Commercial car drivers had threatened to pass on the new tariffs to commuters if they were forced to bear the new costs.
Story by Isaac Essel,Myjoyonline.com,Ghana
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Engineers and Planners currently operate only in Ghana – Bright Simons
7 minutes -
Lands Minister has no legal basis to restrict lease to Ghanaian firms – Bright Simons
12 minutes -
Gov’t’s refusal to renew Gold Fields’ lease was simply untenable – Bright Simons
14 minutes -
SOS Children’s Villages Ghana deepens partnership with Gender Ministry
32 minutes -
Gender Ministry celebrates Christina Koch, reaffirms commitment to empowering girls
45 minutes -
Live stream: Newsfile digs into E&P’s takeover of Damang Mines, OSP powers and Anti-LGBTQ Bill
54 minutes -
Moody’s maintains Ghana’s rating at Caa1, revises outlook to positive
1 hour -
Zambia elevates tourism education to national priority as President Hichilema backs continental summit
2 hours -
Activa promotes credit insurance to boost SME export growth
2 hours -
ILTM Africa 2026 opens doors to inbound and outbound luxury travel in Cape TownÂ
2 hours -
“BP Soul Travel and Tours scored the highest marks” – Sports Minister Kofi Adams endorses agency for World Cup travel
2 hours -
‘At the age of 12, I was teaching people and collecting money from them’ – Forty Under 40 Awards
4 hours -
I broke my virginity at the age of 26 after university – Richard Abbey Jnr.
5 hours -
Sacked for fees, saved by faith: The untold story of Forty Under 40 Awards founder Richard Abbey Jnr
5 hours -
GCB Bank surges GH¢0.45, ETI gains GH¢0.06 as GSE ends week higher
6 hours