In June 2024 the annual report of IVASS for 2023 (Istituto per La Vigilanza Sulle Assicurazioni) was published.
Some of the key data to come out of the report is below.
Insurance Statistics
-85 national insurance companies were present and a further 4 representatives of non-EEA companies.
-average motor insurance premium in 2023 was €391 ( a 5.86% increase year on year) with the average for mopeds at €266 ( a 9.5% increase).
-32.9 million insured vehicles.
-146,000 registered accidents with an average cost of €6961 to insurers.
– €203 million saved by anti-fraud measures.
In July we saw a further report from the ANIA (Associazione Nazionale fra le Imnprese Assicuratrici) with further interesting data on the Italian market:
- 86.4% of incidents led to a claim
- 13.6% of incidents led to a personal injury claim
- 3.9% increase in vehicle thefts year on year
Echoing a trend across Europe increases in personal injury awards were also reported with particularly high increases for serious injuries (over 20% in the last six years and 2.7% over the last twelve months).
Sources:
https://www.ivass.it/pubblicazioni-e-statistiche/pubblicazioni/relazione-annuale/2024/index.html
https://www.ania.it/pubblicazioni
Nick Lavelle/ Managing Director Coris UK