SERBIA: Association of Serbian Insurers: it's important to pay more attention at catastrophic risks

15 March 2023 —
The President of the Board of the Association of Serbian Insurers and the President of Dunav osiguranje Ivana Sokovic expects this year to be better than the previous one, she said at the panel on insurance at the 30th Kopaonik Business Forum.

Ivana Sokovic believes that it's important for the insurance industry to pay more attention at catastrophic risks, as the devastating earthquakes in Turkey and Syria have shown that we have no influence on nature. She added that introduction of such a policy, which should be mandatory, is difficult from the state's point of view because it would be unpopular for most citizens. But, on the other hand, that policy would be extremely significant because of the great damages that fall on the state, in the last case on all citizens as taxpayers.

Dragan Filipovic, Deputy President of the Association's Board of Directors and President of Generali osiguranje noted that the past few years have been extremely difficult for the entire insurance industry, besides 2022 was the year of inflation, and revenues did not keep pace with it. Although awareness of insurance isn't high in Serbia, last year the company achieved EUR 1 billion in premiums. Dragan Filipovic also believes that this year will be better than the previous one, especially if predictions about stopping inflation during this year and returning to the old level by mid-2024 come true.