Civil liability can rise


24.07.2018

Civil liability can rise

 
 The cost of compulsory Third Party Liability insurance for cars, trucks and buses was not sufficient to cover the cost of insurers in 2017.
 
This is one of the main findings of the insurance market analysis carried out by the Financial Supervision Commission (FSC).
 
The conclusion in the document does not automatically raise the price of civil liability, but will most likely lead to an appreciation of the police in certain companies in which the expected ultimate loss insurance is greatest.
 
Data shows that the claims and the damages paid are far from among the light cars, and are among the over 5 tons of buses and buses. It is also seen that claims and damages for property damage are much smaller than those for non-material damage, writes Dnevnik.
 
Thus, in the first survey year - 2012, the average amount of claims for property damage in passenger cars was 1419 leva and in 2017 the amount even slightly dropped to 1362 leva.
 
It is pointed out that the share of non-material damage is only 3% of all claims for insurers. Unlike the proprietary claims, however, their mean value is several times higher - at an average claim for property damage market from 1602 lev average non-property claim was 43 751 or 26 times more than the average property claim. Thus, their share in total loss for the market is just over 50%. As an absolute value for 2017, the sum is over BGN 394 million, the commission said.
 
According to the Ministry of Interior, according to which the wounded and the victims of the catastrophes for the last year were 9362, the number of them in the last years was relatively the same. In 2017 the country registered 6888 serious accidents in which 682 were killed and 8680 were injured, including 6737 and 1943 slightly heavy.
 
This analysis seeks to ascertain whether the insurance premiums, including each individual risk group, are sufficient for the market. This analysis is not intended to determine whether the premium is sufficient


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