President John Mahama has directed the Transport Ministry to intervene in the impasse between driver unions and the National Insurance Commission over the increase in motor insurance premium.

The driver unions whose membership includes the Ghana Private Roads Transport Union (GPRTU) and the Ghana Roads Transport Coordinating Council (GRTCC) are protesting the increase in motor insurance premium.

The Ghana Insurance Association (GIA) and the Ministry of Finance agreed on a 300% increase in insurance premium in July 2015 and it is being implemented in two phases.

Speaking at a news conference in Accra on Tuesday, however, the operators said they “were not informed about the directive and must be reversed.”

Commenting on the development, the President stated at a sod cutting ceremony in Accra Wednesday that although government is not involved in such negotiations it is deeply concerned and will want the issue resolved amicably.

“I was watching the TV this morning where I saw our friends in road transport sector expressing concern about the challenge that they face. My understanding is that insurance premiums have been increased.

"Government is not responsible for setting insurance premiums; it is the insurance companies and the National Insurance Commission. So if Insurance premiums have been increased it was not done in consultation with government.

“I’ve asked the Minister of Transport to call the National Insurance Commission, the GPRTU and other stakeholders to sit down and have a discussion on the insurance premiums and I’m sure that when that discussion happens everyone will leave there happy and there will be no problem,” he stated.