3 Feb 2006

Fiji insurance companies hike third party premiums

11:16 am on 3 February 2006

Insurance companies in Fiji have sharply increased premiums for third party insurance for motor vehicles.

The Fiji Times reports the companies are blaming the high number of road accidents, large numbers of fatalities and increasing personal injury claims and court awards.

Third party insurance premiums for private and business vehicles have gone up by 29 per cent and by lesser amounts for other vehicles.

The opposition leader, Mahendra Chaudhry, has likened the commissioner of insurance to a toothless tiger which lacks enforcement.

Mr Chaudhry has compared the increase in third party premiums to the increases in bank charges with no regulatory body to control the burden on the public.