The loss on the MTPL segment amounted to EUR 150 million in 2009
The losses suffered by insurance companies only on the MTPL segment could raise at the end of 2009 to over EUR 150 million. The estimate belongs to Cristian CONSTANTINESCU, General Manager, ALLIANZ-TIRIAC, and was made at XPRIMM ANNUAL FORECAST MEETING - General Insurance 2010, an event organized on January 20, by APPA - the Association for Promoting Insurance and by PRIMM Magazine.
In the first nine months of 2009, underwritings made by companies authorized on the MTPL segment amounted to EUR 387 million, according to the results of the Specialty Review Insurance PROFILE.
A concerning aspect, which could lead to the increase of the losses, is also given by the higher volume of non-patrimonial claims paid by the profile companies. "The frequency of cases in which it is required to cover body injuries based on the MTPL is increasingly higher, values being much higher than for material damages. We estimate that the evolution of this segment will be a quick one", said Radu MUSTATEA, President of the Directorate, ASTRA Asigurari.
According to current legislation, the limits of compensation based on the MTPL policy stand at EUR 500,000 for material damage and at EUR 2.5 million for body injuries and death.
Author: Mihaela CIRCU
on 21.01.2010
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