Proposal of increase of motor insurance tariffs

The Association of Tanzanian Insurers (ATI) has submitted to the regulatory authorities a proposal for motor tariffs increase. This project came into effect as of March 1, 2013. ATI justifies this increase by the losses incurred by insurers in this class of business. The new proposal will increase premium rates to a level comparable to that of Kenya and Uganda.

Some have voiced opposition to this move which they believe unacceptable. The Tanzania Truck Owners Association (TATOA) has threatened to cease its transport activity if the project was accepted . Its members would be required to pay four to five times as much for insurance premiums in case of the proposal validation.