ΟΙ ΠΑΡΑΓΟΝΤΕΣ
- 30 Apr 2023
- economy
Current developments on the inflation front are driving up the cost of private clinics and replacement vehicles, with the result that insurance companies are under pressure to go ahead with further increases in their tariffs in 2023, at least in health and car policies.
As euro2day.gr reports in a publication, in addition to these, insurance companies are also affected by the noticeable increase observed in their operating expenses, such as e.g. from the increase in energy costs, rents, staff wages and many other categories of expenses.
Specifically in the vehicle sector, after a +5%-8% we saw imposed on average in the autumn of 2022, a corresponding rate of tariff increase is expected to take place in the first months of this year, as based on last year's sector results , many companies saw their loss ratios and operating expense ratios climb dangerously high.
In addition to these, there are two more factors that have not gone unnoticed by insurance companies.
The first is related to the increase that seems to be observed lately on the front of uninsured vehicles, a trend that may be maintained or even intensified in the coming months, due to the fact that two electoral contests are imminent in the first half of 2023. In particular, executives of insurance companies they have no complaints from the checks carried out by the Traffic Police, however they fear that many drivers may be breaking the law, leaving their vehicles uninsured, expecting that during the months-long pre-election period the Traffic Police checks will be relaxed.
The second factor is related to the continued heavy traffic on Greek roads, a development that has disproved all those who predicted a drastic reduction in road transport due to the energy crisis. Overall, the price of gasoline today is well below summer highs and, combined with a number of other economic factors, has so far kept traffic at levels fairly close to those of the pre-pandemic year 2019, with whatever that might mean. for the number of traffic accidents and the amount of compensation paid by the insurance companies.
a) It appears clearly increased during the first ten months of 2022 compared to the corresponding periods of both 2021 and 2020, when however during the two years 2020-2021 restrictive traffic measures were imposed to deal with the pandemic.
b) Road accidents in October 2022 fluctuated at slightly higher levels compared to the corresponding month of 2021 (neither of the two months had restrictive measures been imposed).
