ESTONIA: Road traffic accidents decreased in 2018 according to LKF

During 2018 there were 35,251 road motor incidents in Estonia, the lowest number in the past 4 years. While the number of incidents decreased, the average claim has increased in value by 11,62% compared to 2017.

The average value of claims for the insured events was EUR 1,969 overall, EUR 1,687 for vehicle damages and EUR 6,035 for body injuries costs.

"Although the number of motor insurance events has somewhat decreased during the year, last year there were many serious accidents resulting in human injuries, which meant that the amount of claims related to personal injury increased," explained Andres PIIRSALU, Member of the Management Board of Motor Insurance Fund.

The region with the most recorded accidents was Harju county where 20,064 cases took place (56,9% from the total number of accidents), followed by Ida-Viru county with 2,145 cases and Parnu county with 1,533 cases.

The top value event that happened in 2018 was caused by a collision between a truck and a passenger train, which caused nine people to be injured and serious damage to the both vehicles, making some of the train's carriages derail. The estimated cost of the incident is around EUR 1.3 mil (from which EUR 0.04 mil went to body injuries).

If we talk about the motor insurance activity, the number of insurance contracts and the number of customers was the highest in the past 5 years. There were 720,406 new motor insurance contracts (+2.71% from 2017) and 435,529 customers (+2.46% from 2017). The average premium price was EUR 142 in 2018, recording an increase of EUR 12 compared to 2017 average value (+9.23%).

The full report over motor insurance activity in Estonia, published by LKF, can be found on their official website, here.



Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ON THE MOVE

Peter CLARKE named VP & COO of FAIRFAX

FAIRFAX Financial Holdings Limited announced that Peter CLARKE has been appointed Vice President (VP) and Chief Operating Officer (COO) of FAIRFAX, reporting to FAIRFAX President, Paul RIVETT.

12.02.2019

ERGO Group appoints a Polish manager

Adam ROMAN, board member of Ergo Hestia (Poland), will hold the position of Head of Global P&C of the ERGO group, effective 1 March. His tasks will include supervision over property insurance of the group in the areas of underwriting, actuarial and pricing, as well as reinsurance.

07.02.2019

TOP EVENT

Inclusive Insurance - a creative solution to narrow the protection gap in the emerging markets of the Southeastern Europe

Insurance should be accessible to all social classes, regardless of their wealth & income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. Inclusive insurance's goal is making insurance available to all, with responsible insurance offers, thus making up for a solution to narrow the insurance coverage gap in the region.

14.02.2019

Latest trends and challenges in the property and motor insurance lines under scrutiny, in Vienna

Property and motor insurance lines are providing for about 75% of the non-life insurance business in the CEE region, but are responsible for over 77% of the claims expenses. As such, although other classes of risks are emerging, for the time being and most probably for a rather long period ahead, property and motor insurance lines will continue to be at the heart of CEE's insurance market architecture.

14.02.2019

FIAR 2019: Register before 28 February and save EUR 400 of the attendance fee

To the satisfaction of its traditional guests, FIAR returns in 2019 to its historical hometown, Sinaia. The forthcoming edition will benefit from the comfort and professional facilities of a new venue, the Conference Center of the International Hotel ****, located in the heart of the beautiful mountain resort. Registration is opened at a significantly discounted early bird rate until 28 February.

10.01.2019

See all