АSO reacts: The car insurance policies price increase is unjustified

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The Insurance Supervision Agency – ASO informs the public that the increase in the price of compulsory car insurance policies is an unjustified step by insurance companies.

After receiving notifications from the insurance companies that they will increase the price, actuarial calculations were made for verification. After the actuarial calculations, it was determined that the price increase, with the given reasons, is not justified.

Therefore, the ASO informed and submitted a proposal to the Ministry of Finance, within its legal competences, to initiate the preparation and adoption of a new tariff of premiums for mandatory automobile liability insurance. And thus to limit the amount of the overhead allowance that will enable the reduction of the price of compulsory automobile liability insurance policies.

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