CZECHIA, MTPL 2019: Tarrifs increased by 4% y-o-y while the average claim by almost 7% y-o-y

According to Czech Insurers' Bureau (CKP), in the past years the MTPL tarrifs started to rise slightly, thus, in 2019, according CKP figures, the average premium is CZK 2,969 (~EUR 115), representing an increase of about 4.1% y-o-y, while the average damage related to property claims increased by 6.9%.

At the same time, compensations related to injuries expanded by 8%. "Therefore, the growth of premiums is still not as intense as the growth of damage", said Petr JEDLICKA, Actuary of the CKP.

According to CKP, in average, Czech drivers payed about CZK 100 more this year for MTPL insurance. The increassing costs in damages are the main reason behind the increasing tarrifs, notet CKP the highest increase in tarrifs being felt by risky clients "with one in five drivers aged 18 years causing an accident".

CKB mentioned that the total number of insured vehicles in the country is about 8.4 million, while, the number of uninsured vehicles is 140,000.

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