Estonia: MTPL tariff decreased by a quarter in two years

14 June 2021 —
According to LKF (Estonian Traffic Insurance Fund) statistics, the MTPL annual average premium fell to EUR 108 in the first quarter of 2021. As comparison, two years ago the same indicator was EUR 145, about 26% less.

According to LKF CEO Mart Jesse, the decrease in MTPL annual average tariff is primarily due to the decrease in the number of losses reported during 2020. "Last spring, due to the combined effect of a snow-poor winter and the state of emergency, the number of traffic accidents decreased by 39%, but in the second half of the year the number of injuries started again to increase".

Thus, during the first quarter of this year, the number of cases rose to pre-crisis levels. "As a result, the result reported on this LoB in the first quarter was 10 times lower than last year, "said Jesse.

The result of the MTPL insurance market was EUR 500 k, while in the same period last year it was EUR 4.4 million. In the first quarter, there were reported 8919 cases related to MPTL.

During Q1 2021, in Estonia were 779,430 vehicles with motor third party liability insurance, 24,900 more as compared with 2020.