The Consumer Protection Agency rejected the 43% increase in insurance.
The Consumer Protection Agency (CPA) strongly opposes the 43 percent increase in insurance premiums by the National Insurance Commission.
The insurance regulator, the National Insurance Commission (NIC), on January 1 implemented a new Motor Insurance price (tariff) that all insurance companies are required to pay.
Among other things, the price changes are aimed at maintaining the financial health of auto insurance companies, so that they can continue to provide value to their customers.
Speak in Witness News there, Mr. Kofi Owusu Hene popularly known as Kofi Kapito, Chairman of the Consumer Protection Agency said NIC failed to involve stakeholders in the sector to decide on the increment.
According to him, there is no reason for an unfair upward adjustment in insurance premiums.
He added that “further consultation has not been completed and will reduce the amount we are asked to pay,”
He urged the NIC to prevent its implementation and demand proper consultation and education.
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