STATISTICS:

POLAND: new increases in the MTPL tariffs expected after a recent Supreme Court ruling

Polish insurance market may witness a new round of increasing MTPL tariffs following a recent Supreme Court ruling, asking insurers to pay compensations for permanent disability not also to the victim, but also to his/hers close relatives.

The court has yet to publish a verdict justification which might help insurers define costs. The Polish market's watchdog, KNF, has put the estimated costs at anywhere between PLN 600 million and PLN 16 billion and has demanded insurers run stress tests. Minister of Finance Teresa Czerwinska has promised to draw up guidelines in tandem with the Justice Ministry, wrote the local media.

Motor insurance recorded an interesting evolution last year in Poland, GWP for MTPL insurance going up by an impressing 34.7%, thanks mainly to the increase in tariffs, but also to increasing cars sales. On the other hand, Polish insurers' expenses with motor claims have increased by about 7.2% on the MTPL segment (to PLN 8.6 billion). The President of the Polish Chamber of Insurance said, commenting on the 2017 results, that "more and more money goes to victims in road accidents and their families". Despite this trend, the MTPL market remained profitable last year, the balance of the technical account moving from the PLN 1.08 billion loss of 2016, to a positive PLN 482 million.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ON THE MOVE

TOP EVENT

photodune-3834701-laughing-girl-xs

LIVE: 1st National Reinsurers Summit in Moscow: focus on global cooperation

Today has started in Moscow the 1st National Reinsurers Summit "National Reinsurers: Focus on global cooperation". Organized by the Russian National Reinsurance Company (RNRC) with the support of the Central Bank of the Russian Federation, the conference has the xprimm.com insurance portal as Media Partner.

20.09.2018

photodune-3834701-laughing-girl-xs

LIVE from Monte Carlo: The 62nd edition of the "Rendez-Vous de Septembre"

The 62nd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.

13.09.2018

Willis Re - Market still soft, but functional

Despite the high losses from 2017 the reinsurance market is still soft, James KENT, Global Chief Executive Officer (CEO) of Willis Re stated at a press briefing in Monte Carlo.

10.09.2018

See all