Estonia
ESTONIA: Almost half a million price comparisons have been made in the motor insurance online calculator
This year, over 450,000 motor insurance price comparisons have been made via online calculator of the Estonian Traffic Insurance Fund (LKF). As of July 1, 2024, 882,000 motor insurance contracts were valid in Estonia, with an average annual premium of EUR 151.
1 October 2024STATISTICS: ESTONIA, 1H2024: claims paid for non-life insurance increased almost at a double pace than GWP
Estonian insurers wrote gross premiums worth EUR 344.8 million in 1H 2024, by 8.16% more y-o-y. At the same time, paid claims increased by 5.46%, to EUR 207.72 million. The market portfolio’s structure remained largely unchanged, with only very small alterations of some LoBs’ weight.
9 September 2024ESTONIA: in the 1H2024, employer’s health insurance rose by 11%
During the first half of this year, the number of companies that purchased employer's health insurance to cover medical expenses of their employees increased by 11% - 1400 employers have insured 60,000 employees, which is the highest result since the launch of this insurance product in 2018.
29 August 2024ESTONIA: In the first half of the year, motor insurers paid out EUR 41 million
In Estonia in the first half of this year, insurers compensated motor insurance losses in the amount of EUR 41 million, which is 13% more y-o-y. According to the statistics of the Estonian Traffic Fund (LKF), the number of motor insurance claims increased by 3%, reaching 17,000 cases.
21 August 2024STATISTICS: Estonian Q1 insurers’ GWP increased to almost EUR 170 million
Estonian insurers posted aggregate business worth EUR 169.62 million in Q1 2024, or 9.51% more y-o-y, according to quarterly figures, published by the Estonian National Statistics Board.
25 June 2024ESTONIA: The maximum compensation in motor insurance to rise to EUR 6.45 million
According to the recently approved amendments to the Road Insurance Law, the maximum compensation amount for a road accident will increase to EUR 6.45 million from July 15. And from December 1 this year, traffic insurance will be extended to unregistered vehicles such as electric scooters and off-road vehicles, the Estonian Traffic Fund (LKF) announced.
17 June 2024ESTONIA: In 2023, glass damage accounted for 37% of all Motor Hull cases
According to the Association of Estonian Insurance Companies (EKsL), last year insurers paid for 29,000 glass damages through voluntary vehicle insurance, the total loss of which was EUR 17 million.
7 May 2024ESTONIA: in 2023, traffic insurance cases caused by taxis resulted in a total loss of EUR 2.2 million
According to the statistics of the Estonian Traffic Fund (LKF), last year, app taxis caused twice as many traffic insurance cases as regular taxis and seven times more than other passenger cars.
17 April 2024STATISTICS: Estonia’s insurers reported double digit increase in FY2023 business
At the end of 2023, the insurance market of Estonia totaled EUR 638.44 million in terms of GWP, up by 15.89% y-o-y, according to the year-end market data published by the Estonian National Statistics Board.
26 March 2024ESTONIA: Last year, scammers tried to defraud EUR 2 million
According to the Estonian Insurance Association (EKsL), 529 insurance fraud cases were registered last year, with an attempt to defraud EUR 2 million. At that, the average scam amount was EUR 3,800, and larger frauds exceeded EUR 100,000.
25 March 2024ESTONIA: The new software to greatly simplify settlement of home insurance claims
Estonia's largest property insurers have adopted the Swedish company CAB Group's MEPS software, which is used to calculate real estate renovations, for example, for home insurance customers.
19 March 2024ESTONIA: LKF: January was the most accident-prone month in Estonia in the last few years
According to the statistics of the Estonian Traffic Fund (LKF), 3,800 traffic insurance cases were registered in January this year, with an estimated total loss of EUR 8.6 million, which is the largest amount of damage and the most accident-prone month in Estonia in the last few years.
26 February 2024ESTONIA: Employer health insurance is the fastest growing insurance class for the sixth year in a row
According to the Association of Estonian Insurance Companies (EKsL), 1,340 employers purchased additional health insurance last year, insuring a total of 55,600 employees. The amount of employer health insurance premiums increased by 30% and reached EUR 19 million, the Association wrote.
21 February 2024ESTONIA: 70% of motor insurance disputes in 2023 ended with an agreement
Last year, 440 applications were submitted to resolve insurance disputes, of which 229 were related to motor insurance.
7 February 2024ESTONIA: LKF: total loss from traffic insurance cases last year increased by 3%
According to the statistics of the Traffic Insurance Fund (LKF), 34,300 traffic insurance cases took place in Estonia last year with a total loss of EUR 72 million. In addition, Estonian vehicles caused 2,600 traffic accidents abroad, the total damage of which reached EUR 11 million, the Fund reports.
16 January 2024ESTONIA: Insurance losses from home fires almost tripled in five years
According to the Association of Estonian Insurance Companies (EKsL), the average insurance loss from home fires has almost tripled in five years. In home insurance in 2022, there were a total of 425 fires with a total loss of EUR 7 million.
9 January 2024ESTONIA: Storms cause the most insurance cases in December
According to the Estonian Insurance Association (EKsL), in the last 15 years, storms have caused the most insurance cases in December. The risk of storms is also greater in October and August. The biggest storm in 2023 was on October 7-8, when it caused 1,500 insurance cases with a total loss of EUR 3.5 million.
12 December 2023STATISTICS: Estonian insurers’ GWP expanded to EUR 477 million at the end of Q3 2023
Estonian insurers posted January-September 2023 aggregate GWP worth EUR 477 million, 17.5% more y-o-y, according to the market figures published by the Estonian National Statistics Board. Total paid claims by local insurers increased by 4.5% y-o-y to ~EUR 302 million.
29 November 2023ESTONIA: The average annual premium for motor insurance increase by 22% in 10 months
According to the Estonian Traffic Insurance Fund (LKF), during the first 10 months of 2023, the average annual premium for motor insurance amounted to EUR 144, which is 22% more y-o-y, the Fund said.
29 November 2023ESTONIA: EKsL: the desire of Estonian people to insure their lives is low
According to the Association of Estonian Insurance Companies (EKsL), 30% of the country’s population has life insurance. Last year, collected life insurance premiums reached EUR 60 per person, while non-life insurance amounted to EUR 347 per person, the Association wrote.
13 November 2023
