Premium
Insurers in Romania pay, on a daily basis, damages worth millions of euros, on an insurance market that has reached 5.43 billion lei, Adrian Marin, president of the National Union of Insurance and Reinsurance Companies in Romania (UNSAR) told specialized conference on Thursday.
According to the data presented by the UNSAR representative, in the mandatory car insurance segment, the increase in the subscribed premiums was 4.8pct in the first half of the year, compared to the same period of 2018, while on the optional car insurance segment there was a 10.9pct leap compared to the reference period. The damages paid also increased faster than the subscribed gross premiums, on the mandatory car insurance segment by 14.7pct - from 1.359 billion lei to 1.559 billion lei, and the damage rate increased from 78pct to 83.8pct.
In addition, on the optional car insurance segment, the damages increased by 18.5pct, between January and June 2019, up to 799 million lei, from 674 million lei reported in the first half of the previous year. The damages rate in Romania has increased this year from 77.6pct to 86.4pct, while on this line the companies administer about one million contracts.
The Romanian Car Insurance Agency - BAAR and the Institute of Financial Studies - ISF organized on Thursday the conference on "Car insurance and traffic safety in the digital age".
