Exchange rate and growth of claims rate - factors leading to increased MTPL rates
"The price of the MTPL policies is decisively influenced both by the exchange rate and by the the increasing claims rate, which has doubled, reaching 10-12%", Radu MUSTATEA, President of the Directorate of ASTRA Asigurari, has recently declared.
Radu MUSTATEA has also placed an emphasis on changes suffered by the car fleet in Romania. We drive imported cars, whose maintenance and repair costs are related to the leu-euro exchange rate, which also influences the amount of claims. All this leads, inevitably, to increases in prices for the MTPL policies.
To the increases of tarrifs charged for MTPL policies there are also added, starting from January 1, 2009, increases of tarrifs for drivers involved in accidents, once with the introduction of the bonus-malus system.
"Rate growths will affect particularly those who had claims, approximately 10%-12% of the insured drivers. The others can even have reductions", said Radu MUSTATEA.
"Also, malus becomes the sole form of punishment for those who produce meaningful material damage, but solve them using the amicable report", he added.
Also, Cerasela NERGHES, General Director of ASTOP Broker brought up a question related to the application of the bonus-malus system in Romania: Who will be the one penalized? Is the driver responsible for the damage or the owner of the vehicle involved in the accident?
"Before we make calculations and raise questions, we should wait for the elaboration of the functioning rules of this system", concluded Alexandru CIUNCAN, Business Development Director of Media XPRIMM.
Author: Oana RADU
on 18.11.2009
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