Insurance stakeholders and vehicle owners have continued to react to the new premium rates for various classes of motor insurance approved by the National Insurance Commission (NAICOM) on December 22. With the new policy, third party motor insurance policy will be increased from N5, 000 to N15, 000, with effect from January 1, 2023. NAICOM announced the new policy in a circular titled: New Premium Rate for Motor Insurance with number: NAICOM/DPR/CIR/46/2022, signed by the Director, Policy and Regulation, NAICOM, Leo Akah. READ ALSO: Agnodice: Agony of World’s Known First…
Read MoreAnalysis New motor Insurance Policy: Matters arising
