The Polish insurance sector recorded an all-time high in motor insurance payouts in 2024, with insurers disbursing PLN 19.24 billion (EUR 4.4 billion) in claims from MTPL insurance and Motor own Damage (MoD) policies. This marks a PLN 3 billion increase compared with 2023, according to Insurance Guarantee Fund (UFG) as quoted by Gazeta Ubezpieczeniowadata.

Policyholders filed over 1.86 million motor insurance claims in 2024, an increase of 114,000 cases (6.5%) compared to the previous year. Of these, 1.02 million claims were made under MTPL policies, with 970,000 involving property damage and 46,800 personal injury claims—both figures higher than in 2023. Meanwhile, MoD claims surged to 844,900, reflecting an increase of 73,000 y-o-y.

EUR 2.5 billion paid out in MTPL claims

The rising number and cost of claims significantly increased compensation amounts. Insurers paid out PLN 10.97 billion (EUR 2.5 billion) under mandatory MTPL policies, a 16% jump from 2023. This includes PLN 9.34 billion for property damage claims (up from PLN 8.27 billion) and PLN 1.63 billion for personal injury claims (up from PLN 1.39 billion).

MoD payouts up nearly 20%

MoD insurance payouts reached PLN 8.27 billion (EUR 1.9 billion), a 19.6% increase from PLN 6.91 billion in 2023, driven by higher repair costs and an increasing number of claims.

At the end of 2024, 29.7 million MTPL policies and 7.7 million MoD policies were active, with MoD coverage penetration rising to 26.1% compared to 25.7% in 2023.

Fridays and Mondays are the riskiest days

According to UFG,c the surge in motor insurance claims and payouts underscores the growing financial strain on the sector, reinforcing the need for effective risk management and road safety measures.