According to Cristian Constantinescu, general manager of Allianz- ºiriac, insurers will close this year in the red. The estimated loss of 76 million Euros is comparable with the last year record. The main reason for these losses is the price policy in case of vehicle insurances: increasing workforce costs, expensive auto parts, and above all, the sheer number of accidents. Also, the regulator body plans to introduce new methodologies, which automatically translate into higher costs for insurers.
According to market estimations, insurance premiums will cost 20% more in case of civil liability policies, and even 40% more in case of CASCO.
