Motor Insurance Tariffs to Rise Marginally from February 16 with NIC Approval
Motor insurance tariffs are expected to increase marginally from February 16, 2026, following approval by the National Insurance Commission (NIC).
The Commission has sanctioned the revised rates to apply across all categories of non-life insurance policies, a decision sources say is informed by prevailing economic conditions.
According to the sources, the adjustment is aimed at strengthening the capacity of insurance companies to meet claims obligations as they fall due. The review will therefore affect all non-life policyholders nationwide.
The NIC has also cautioned industry players to strictly comply with the approved tariffs, stressing that any deviation will attract sanctions.
Additionally, the Commission said it will update the motor insurance database to reflect the new rates once they take effect.
