LATVIA: LAA: almost EUR 2 million paid by BALTA to vehicle owners this year

22 July 2022 —
The summer season in Latvia is the most intensive time for road repairs. According to BALTA (PZU Group), during the summer months the number of claims for damaged car windshields increases almost twice. This year, the insurance company has already paid out over EUR 1.7 million to car owners for windshield damage, the Latvian Insurers' Association (LAA) reports.

Last year, in total, BALTA paid out over EUR 3 million for broken car windshields. It is expected that this year the amount will remain at least the same, however, compared to the previous year, the average compensation for each case has increased, and now reaches more than EUR 500.

As recent trends show, more and more often car owners choose a modern and environmentally friendly solution in case of damage - not a replacement of the windshield, but a repair.

According to the calculation made by BALTA, the company is the leader of the non-life insurance market in Latvia. In 2021, its GWP reached EUR 116 million. Latvian residents have rated BALTA as the most honest insurer for 18 years. BALTA is part of the PZU group, which is one of the leaders in the insurance market of CEE.