The winner of the Insurance Act of the Year competition organized by the Estonian Insurance Association (EKsL) was PZU Kindlustus, which was the only insurance provider to introduce mandatory liability insurance for healthcare providers to the market last December, the Association said on its website.

According to EKsL CEO Tuuli Pärenson, the launch of the service was an extraordinary event in the Estonian insurance market, as there was a lack of Estonian claims statistics, which made many other insurance companies hesitate to enter the market, Pärenson explained.

Mihkel Uibopuu, the head of PZU Kindlustus, emphasized that the launch of the new product was fast and labor-intensive. “We were able to insure nearly 1,500 healthcare providers in just a few months. We created an electronic claim submission system, built a claims handling team, and developed pricing based on limited data. This ensured protection for healthcare providers and confidence for patients that their losses would be compensated – a step for the benefit of the entire society”, said Uibopuu.

PZU Kindlustus's launch of the mandatory liability insurance for healthcare providers was both the best by the jury and became the people's favorite in the online vote among a total of seven candidates in the competition.