Two hot months for insurance premiums

A difficult 2011 is predetermined for the insurance sector and the insured individuals as most businesses in that market are already feeling the hot breath of the low premium production due to the crisis.

The result, therefore, of the decreased revenue seems to be a weighted average increase in premiums, particularly in automotive and health contracts, by 5% -15% per case.

These increases in our dire financial circumstances will lead thousands of Greeks to a dead end.

Market circles are mentioning a wave that will hit mainly in the next two months, since companies have now formed a complete picture of their course in the market.

As the president of a major insurance company stressed in protothema.gr «those – and they are many – that didn’t do quite well in 2010 are aiming to collect the damage from their clients».

Meanwhile, car withdrawal does not seem to bring changes to the companies' action plan, which will not proceed to some kind of price adjustment, but because of the crisis will move to the anticipated increases.

«The withdrawal will simply help in increasing the premiums because of the insurance of new vehicles that will be bought, which will be slightly more expensive due to their age. We are not that optimistic» said the same source.