More than 1 mln renewed mandatory vehicle insurance contracts

Telco

The number of clients who purchased new mandatory vehicle insurance contracts at the end of 2011 came to 1.03 million, but only 738,000 of these clients switched insurers, fresh data from financial market regulator PSzÁF show.

About 116,00 of the new contracts concerned company fleets.

Clients who switched insurers saved 28.5% of their fee costs and are now paying 7% less than before as result of the new accident tax which insurers collect on behalf of the government. The average fee for cancelled contracts was HUF 24,987 compared to HUF 17,868 for new contracts. The difference between average fees overall was 28.8%, including those clients who took out the new policy from their former insurers.

ADVERTISEMENT

Poles Save on Education as Inflation Puts Pressure, Report Analysis

Poles Save on Education as Inflation Puts Pressure, Report

Gov't Clears HUF 200 bln Aid for SMEs in Energy-Intensive Ma... Government

Gov't Clears HUF 200 bln Aid for SMEs in Energy-Intensive Ma...

Róbert Ésik Joins EY as Partner Appointments

Róbert Ésik Joins EY as Partner

Teachers' Strike Demonstration Attracts Thousands in Capital City

Teachers' Strike Demonstration Attracts Thousands in Capital

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.