MARKETS & TRENDS

Cyber risks - expected to develop fast driven by the increasing interconnectivity of business

"The cyber insurance market is currently estimated to be worth around USD 2 billion in premium worldwide, with US business accounting for approximately 90%. Fewer than 10% of companies are thought to purchase cyber insurance today. However, the cyber insurance market is expected to grow by double-digit figures year-on-year and could reach USD 20 billion+ in the next 10 years," states the recent study released by ALLIANZ, "A Guide to Cyber Risk: Managing The Impact of Increasing Interconnectivity".

Market for motor third party liability insurance in selected countries of South East Europe

The motor third-part liability insurance represents the most important insurance line of business, both in the developed and the developing countries. The legal framework, premium and reserving based on actuarial projections, guarantee funds, information systems, and reinsurance techniques all are crucial for the development of a healthy MTPL insurance system.

Who purchases the most expensive CASCO insurance in the CEE?

In addition to the deductible or the number of covered risks, there are other factors - such as the high frequency of damages, the road infrastructure and the high level of the compensation requests - that influence the CASCO insurance premium. In the case of Romanian, Russian and Ukrainian car owners the prices are among the highest in the Central and Eastern Europe region, according to the latest analysis carried out by the XPRIMM Publications.

MTPL prices in Central and Eastern Europe - how far from the mature markets?

Although mandatory in all European countries, MTPL insurance registers major differences both in rates and coverage accross the CEE and CIS markets. Thus, if in countries such as Russia and the Republic of Moldova the MTPL price is a standard one, regulated through the local legislation, in the member states of the European Union the price liberalization transformed the MTPL into one of the main sore points of the insurance markets.

Reinsurance in the CIS - the main trends and forecasts for 2014

In the report of the international rating agency Standard & Poor's, the international reinsurance market in 2013 was characterized as a record of high level of capitalization, high profitability and growing importance of the reinsurance sector, which together reflect the strong performance of the sector over the past five years.