First motor tariff rise in thirty years

Motor insurance tariffs have increased since January 16, 2012. It is the first time in thirty years that the State sided with the insurers regarding motor premiums. This increase will be scheduled over a period of four years. Many insurers were driven out of this segment because of a very High loss ratio allowing them to barely balance their accounts in the best case scenario. The tariff increase is likely to enable insurers to go back to profits in motor business.