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Motor insurance gives headaches to the Romanian insurers, the more so now, in times of crisis, when to the increasing claims rate there are also added the decrease of the underwritings and the customers' tendency of self-insurance.
Motor insurance gives headaches to the Romanian insurers, the more so now, in times of crisis, when to the increasing claims rate there are also added the decrease of the underwritings and the customers' tendency of self-insurance. In the view of specialists, this insurance segment is one that consumes many resources, generating small profits.
"I do not consider motor insurance to be a very profitable line. If you manage to stay on the floating line, with a small profit of 5-10%, is fine. If the insurer makes higher profits on the motor segment, something is wrong... The decline of the motor share in the market, in 2009 and 2010, has at least the advantage of balancing the portfolio and of forcing the insurers to strive harder on other lines of business", said Ionel DIMA, Vicepresident, AVUS International.
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