A notice from SIC Insurance PLC has revealed that the National Insurance Commission (NIC) has revised premiums for third-party motor insurance.

According to SIC, the 10% increase in rates will be implemented starting Saturday, February 1, 2025.

Below is an excerpt from the SIC Insurance circular:

Dear Valued Client,

Best wishes for the New Year!

We wish to inform you that the National Insurance Commission has reviewed Third-Party Motor Insurance premiums, with a 10% upward adjustment. This change will take effect from February 1, 2025.

Thank you for choosing SIC Insurance PLC!