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The number of traffic accident insurance claims up by 26% this year

4 Aug 2021

The summer of 2021 will be remembered by many residents not only for the unusually long hot spell, but also for the negligence of drivers on the roads and the damage caused to vehicles. In the first seven months of the year, BTA Baltic Insurance Company AAS (hereinafter – BTA) has received twenty-five percent more insurance claims for traffic accidents than in the previous years.

By the end of July, the number of cars damaged in traffic accidents had exceeded the number of claims received by BTA by 20.6% in 2019 and by 26% in 2020 in the same period. In addition, accidents have been severer than in 2019, as the average cost per accident has increased by 13%. As a result, the total amount of claims paid has increased significantly. Two years ago it was 31%, whereas in 2020 it was 22% lower than this year.

Also, there is a significant increase in the number of claims for broken auto glass and third party criminal illegal activity. Compared to 2019, this year BTA has received 43% more claims to compensate the replacement of broken or cracked glass. It is also a significant increase compared to last year – 34%. However, the cost of replacing windshields has not changed, so the total amount of indemnities has increased accordingly to the number of accidents.

"This year's accident statistics clearly indicates that the long-term idletime has negatively affected drivers, as their driving skills have obviously deteriorated. Accidents often occur due to negligence and in places where they can be avoided. The probable disturbances might have been the heat, the bright sun or the poor condition of a recently repaired road, where loose stones from its surface are lifted into the air and thrown against the wind-shield thus causing the frightened driver to jerk the wheel – the large number of damaged windshields is an indication of this last accounted problem. However, many accidents could have been avoided by keeping a proper distance and maintaining focus,” adherence to careful driving advises Kārlis Liepiņš, Director of BTA Insurance Claims Handling Department.

This year the number of third-party illegal activity cases has also increased by a quarter compared to the past two prior years. However, the average amount of indemnity paid per case has remained about the same level.

About BTA

 

BTA Baltic Insurance Company is one of the leading insurance companies in the Baltics, offering the broadest range of non-life insurance services in Latvia, Lithuania and Estonia. BTA employs more than 1,000 employees in the Baltics. The largest shareholder of BTA is Vienna Insurance Group AG with close to 200 years of experience in the insurance business. With about 50 companies in 30 countries and more than 25,000 employees, Vienna Insurance Group is a clear market leader in its Central and Eastern European markets, and takes care of more than 22 million customers. Vienna Insurance Group is the best-rated company of ATX, the leading index of Vienna Stock Exchange (since 1994) with a rating of A+ with stable outlook from Standard & Poor’s; its share is also listed on the Prague Stock Exchange. Vienna Insurance Group works in close partnership with Erste Group – the largest retail bank in CEE.

 

Additional information:
Elīna Rasmane
Marketing and Public Relations Department Director
BTA Baltic Insurance Company AAS
e-mail elina.rasmane@bta.lv

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