Car insurance price rise should be put on hold by the end of day, demands Finance Ministry

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At a meeting on Monday, the Automobile Liability Insurance Commission considered the report submitted by the National Insurance Bureau related to the increased prices based on the premium for performing the insurance activity.

The commission instructed the National Insurance Bureau and the regulator the Insurance Supervision Agency on Monday to propose to the insurance companies until the end of the day to put on hold the decisions to increase the costs and return them to the level before April 25, 2024.

The companies, neither individually nor through the National Insurance Bureau, have not notified the regulator, nor the Commission, that they plan to increase the costs based on the premium for performing the insurance activity, and thus cooperation with all stakeholders is not ensured when adopting the decisions.

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