The Warsaw Voice » Business » News - May 7, 2018
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OC to be more expensive
   
Poland's insurers will most likely hike civil liability (OC) insurance premiums as the Supreme Court's recent regulations oblige them to pay compensation also to relatives of persons who suffered heavy and lasting health damage as a result of an accident, also on a retroactive basis, head of insurers lobby PIU Jan Grzegorz Pradzynski tells the daily Rzeczpospolita.
Foreign insurance companies entering the Polish market and unburdened with retroactive compensations will be able to offer lower premiums; however, these will not be adequate to the potential risk, Pradzynski says.
The new law on insurance distribution might help the market as it will put insurers under scrutiny, he adds. Changes to the European legislation to exclude insurers from freedom of services would also be desirable, according to the expert.