Dear Editor,
The Insurance Association of Guyana takes note of a letter written by Mr. Kit Nascimento and carried in your newspaper, 24th October, 2023. We fully agree with the observations of Mr. Nascimento and the suggestions made.
In relation to the motor third party limits, we wish to advise that we concur that the current limits are obsolete, serve no useful purpose and should be immediately increased. In fact, many of our member companies do not sell those low limits. With the passage of time and increased costs of vehicles and the extent and nature of injuries being suffered by road users due to careless and reckless driving it is patently clear and obvious the limits must be increased and we stand ready to play our part in this materializing.
We look forward to the Hon. Attorney General introducing the necessary legislation to have the limits increased.
Sincerely,
Melissa De Santos
President
Insurance Association of
Guyana
