MiWay Insurance increases monthly premium on business policy by ~50%

Having entered into an e-hailing business insurance contract with MiWay Insurance in June 2023, it took almost 11 months to get MiWay to meet its contractual obligation of installing a tracking device in the insured vehicle due to its service provider (NETSTAR) having failed or refused to do so. A tracker was eventually installed by another tracking company, resulting in an increase in the insurance cost of the vehicle by R199.00 per month. Fourteen days later, I received an "update" of the policy informing that the monthly premium has increased from R1,310.00 p/m to R1,859.80 p/m. Due to MiWay's initial noncompliance, the insurance cost has been increased by R750.00 p/m. In the current economic climate, there is simply no justification for increasing the cost of this policy by more than 50%. MiWay's client services responded with a generic reply about the annual review of the policies. Seriously? now Effectively the insurance cost