INSURANCE COMPANIES COME OUT FOR LIBERALIZATION OF INSURANCE AGAINST THIRD PARTY RISKS
04.02.2010
Chisinau. It is necessary to liberalize the pricing methods of the insurance against third party risks, Chairman of the Association of Insurance and Re-insurance brokers Veaceslav Gamurari considers.
He told Infotag that Moldova has the lowest insurance liability limit in the region (500 thousand lei) and this fact retards the development of the market.
“Clients must have the right to determine themselves the insurance limit of their vehicles, if they are ready to pay extra for additional risks”, Gamurari said and remarked that the situation is analogous concerning the requirements of the local legislation, which determines discount on the wear of transport means.
In his opinion, the liberalization will facilitate the insurance market development and the popularization of insurance products, it will make the activities of insurance companies understandable and logic.
“The prices on insurance products are changed in the developed countries at most once in five years. Experts consider that in the opposite case the society do not feel any stability in the insurance and moves away from such business. In Moldova the prices are changed yearly without any serious statistic base. Despite the Law and the direct financial assistance from the West, the system of analyzing accident rate and insurance agreements has not been introduced until the present”, Gamurari remarked.
He considers it sufficient to use only 4-6 main indicators, among which driving experience and accident rate are the most important, for calculating the price of the police for insurance against third party risks.
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