The General Insurance Association of Barbados defends a decision to increase its motor vehicle insurance premiums, stressing that the high incidence of vehicular accidents are driving up the number of claims reported.
Several people raised concerns as well as the Barbados Consumer Empowerment Network who questioned the local insurer’s decision to increase the motor insurance premiums. They also called for an investigation into the reasons provided by insurers for a rate hike.
President of the Insurance Association, Randy Graham welcomed calls for an investigation.
He said insurance companies pay millions in insurance claims and urges Barbadians to be more cautious on the roads.
President of the General Insurance Association of Barbados, Randy Graham
