MABISZ to accept claims by drivers with Astra policies

Telco

The Hungarian Association of Insurers (MABISZ) yesterday said it will accept claims by local holders of mandatory vehicle insurance policies issued by Astra. MABISZ will accept claims on damages that took place after August 17 that have not already been submitted to Astra. 

Romanian insurer Astra, which has a branch in Hungary, was declared insolvent and its license withdrawn by Romaniaʼs financial market watchdog in August. Hungarian clients of Astraʼs Hungarian branch are eligible for compensation from Romaniaʼs state insurance guarantee fund up to the equivalent of €100,000.

Astraʼs Hungarian business had revenue from premiums of HUF 2.8 bln in the first half, giving it a market share of 0.62%, according to data compiled by the Hungarian Insurers Association (MABISZ). Revenue on premiums from mandatory vehicle insurance policies accounted for HUF 2.2 bln of the total.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

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.