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Insurance hikes Transport operators declare nationwide strike over insurance hikes

Upon intense negotiations, the two parties agreed on a 240%-260% increment.

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Transport operators have declared a nationwide wide strike next Monday over claims that the Ghana Insurance Association (AIG) has increased insurance premium by 500% instead of the agreed 240%-260%.

It will be recalled that the AIG last year increased insurance premium by 800% which was fiercely resisted by the Ghana Committed Drivers' Association (GCTDA) and GRTCC, leading to a reduction of the premium to 400% increase, which was again rejected.

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Upon intense negotiations, the two parties agreed on a 240%-260% increment.

Addressing the press today 2 February,2016, the leadership of the transport operators said "instead of applying the agreed incremental rate of between 240%-260%, the GIA has this year, rather increased the 400% premium rate, to 500%!"

According the transport operators, this act by the AIG amounts to "bad faith."

They also gave the "G.I.A., N.I.C. and the Ministry of Transport, two days within which to reduce the motor insurance premium rate to the agreed percentage of between 240%-260%."

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