The impact of torrential rain, thunderstorms, lightning, hail,
landslides and floods caused millions of euros in damage in Slovakia
this year, and with signs that climate change is creating less
predictable global weather patterns, flood insurance is an increasingly
necessary investment for many homeowners and businesses.
Fraud has always been a concern for insurance companies, but fraudsters
are developing ever more sophisticated schemes; insurance companies,
meanwhile, are responding with more effective countermeasures.
Gross written premium in 3Q2014 by the Slovak insurers went up y-o-y by 2%, to EUR 1.6 billion, at a fairly equal growth pace for life and non-life insurance segments. According to the National Slovak Bank, the market supervisor, overall the number of insurance policies grew by 4.13%, which compared with the GWP increase indicates a still highly competitive market.
A Slovak man who was being sought by police over alleged insurance fraud
has been apprehended in Cuba, the TASR newswire learned from Martin
Waldl of the Police Corps Presidium's communications and crime
prevention department on October 9. "Following close cooperation
with the Cuban Embassy in Slovakia and the Slovak Embassy in Cuba, the
first extradition of a person from Cuba to Slovakia took place today,"
said Waldl, as quoted by TASR.
The Slovak market continued in 1Q2014 its slow paced but stable growth, recording once again a growth of about 2.7% in GWP, to EUR 588 million. The positive trend was visible both on the life and non-life segments
Orange Slovakia is offering travel insurence for the whole family from MetLife Amslico with its roaming packages for free. The promotion applies until 30 September for the roaming offers My Europe/My Europe+, My World/My World+ or Roaming+. The insurance coverage is up to EUR 40,000 in the EU and EUR 100,000 elsewhere. Moreover, the package My Europe, with which customers can call, send SMS and use data anywhere in the EU for domestic prices, that is, EUR 0.12, is free for two months.
THE SLOVAK insurance sector saw no dramatic changes last year, while stabilisation in the eurozone was reflected in developments in Slovakia, too, which mirrored those in other countries in the region. Expectations with respect to positive developments in macro-economic indicators are optimistic. In addition, the insurance sector is preparing for Solvency II and the payment of the first pensions from the so-called second, private, old-age insurance pillar.
NEW technologies are impacting the insurance industry and several
companies in Slovakia now sell insurance policies via the internet or
mobiles - along with reporting an increased interest from clients in
12-15 September 2018 Odessa, Ukraine Organizer: Centre of business strategies "Perspektiva" with the support of the League of Insurance Organizations of Ukraine Media Partner: XPRIMM Publications For details:www.cbs.org.ua
September 20-21, 2018 Sheraton Palace Hotel, Moscow, Russian Federation Organizer: Russian National Reinsurance Company With the support of: Central Bank of Russian Federation and All-Russian Insurance Association Media Partner: XPRIMM Publications For details:https://en.rnrc.ru/partners/national-reinsurers-summit/