From March, CITY Insurance will sell MTPL insurance
The insurance company CITY Insurance will sell, from March this year, MTPL insurance policies. The company was authorized to practice mandatory motor third party liability insurance in November 2009.
According to the General Manager of the company, Nicolae MUSAT, the selling of CITY Insurance MTPL insurance policies will be done both directly and through the insurance brokers' network throughout the country, as currently the insurer does not have a territorial network of representation. Future projects of developing the company include developing the company's territorial network, by opening branches and its own units.
Also, on the claims segment, in Bucharest there will be a specialized center, while the claims management in each of the counties in the country will be ensured through the network of local loss adjusters agreed by the company.
"This expansion of the range of products offered by our company is part of a comprehensive development program for all types of general insurance. Therefore, the role of motor insurance in the portfolio of CITY Insurance, especially of the MTPL type one, is of diversification of products offered by the company", said Nicolae MUSAT.
"As we are not targeting to focus the business around the MTPL segment, we aim, for the future, for motor insurance to represent no more than 35% of all businesses. Meanwhile, the prices charged by our company will be among the highest on the market", continued the Manager of CITY Insurance.
In Italy, a country which in 2009 generated about 80% of the total business of the company, CITY Insurance plans to expand its activity by selling MTPL policies.
Author: Vlad BOLDIJAR
on 25.02.2010
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