Total premiums paid by citizens in travel insurance for traveling abroad in June, July and August reached EUR 2 million, which is 6% more y-o-y. At the same time, paid claims in travel insurance, for this period, increased by 89% and reached EUR 560,000, the Insurance Supervision Agency (ASO) informed.

Over 220,000 citizens bought travel insurance in the summer months (June, July and August), the total number of issued policies for traveling abroad in these three months was 220,860, and the insured paid MKD 125.65 million (EUR 2 million) in premiums.

During the period, insurers paid MKD 34.46 million (EUR 560,000) for medical expenses, lost luggage or any other of the risks covered by travel insurance, which is 89% more y-o-y (MKD 18.23 million/EUR 296,000 in summer months of 2023).

The number of claims paid in June, July and August this year is 14.5% higher y-o-y.

Monthly-wise, travel insurance saw the highest demand in July with MKD 44.79 million (over EUR 728,000) of premiums. Correspondingly, the number and amount of damages paid was the highest in July (MKD 14.9 million/over EUR 242,000), ASO added.