FOURTH INTERNATIONAL INSURANCE CONFERENCE „ Cumpulsory motor third-party liability insurance and

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Klime Poposki. MTPL Insurance Market in Macedonia and the Respective Regulation. FOURTH INTERNATIONAL INSURANCE CONFERENCE Cumpulsory motor third-party liability insurance and the Guarantee fund 23-25 October 201 2 , OHRID hotel-Metropol. Structure of the presentation. - PowerPoint PPT Presentation

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  • FOURTH INTERNATIONAL INSURANCE CONFERENCECumpulsory motor third-party liability insurance and the Guarantee fund

    23-25 October 2012, OHRID hotel-Metropol Klime Poposki

  • Structure of the presentation**Insurance legislation in MacedoniaInsurance market - overviewMotor insurance - overviewMTPLGross written premium (development, share, .)Channel distributionAccidents and claimsClaims paid and reserves indicatorsExpensesUninsured vehiclesComplaints

    Source: ISANational Insurance bureauMinistry of interior in RMMTPL Market Liberalization Project in Macedonia, World BankInception Report, May 2012Axco Global Statistics/Industry Associations and Regulatory BodiesCEA Statistics N38The European Motor Insurance Market,February 2010

  • Insurance Legislation in Macedonia*

    Law on Insurance Supervision;

    Law on Compulsory Insurance in Traffic;

    Rulebooks:

    Rulebook on chart of accounts for insurance and reinsurance undertakings;Rulebook on the form and the content of the balance schemes and detailed content of the Annual reports of the insurance and/or reinsurance undertakings;Rulebook on the statistical insurance standards of the insurance and/or reinsurance undertakings; Rulebook on minimum standards for calculation of technical provisions;Rulebook on calculation of the required level of solvency margin;Rulebook on types and description of items for calculation of the capital of the insurance and/or reinsurance undertakings;Rulebook on valuation of balance sheets items

    Other Laws that complement the Insurance legislation

    Law on Contracts and Torts Company Law

  • Insurance Legislation in Macedonia**Law on Compulsory Insurance in Traffic:

    The establishment and the role of National Insurance Bureau;

    Establishment of the Guarantee Fund and maintenance of its minimum amount which is determined by this LawPrinting of the Green Card form and allowing the insurance companies to issue GC

    Establishment of the MTPL Commission;

    MTPL TariffsMinimum and maximum rate of technical premium;

    Minimum sums insured;

  • Insurance market in Macedonia**

  • Structure of the Gross Written Premium**

  • Motor Insurance**

  • Gross Written Premium(share of MI in the total nonlife insurance)**Share of motor insurance in the total nonlife premiumShare of the respective risk in the total motor insurance premium

  • Gross written premiums relative change, MI*Europem EURMacedonia

  • Claims ratio, MI*

  • Gross written premium and Number of contracts, MTPL*

  • Share of the MTPL premium in the total portfolio*2011

  • Share of companys MTPL premium in the total MTPL premium*

  • Average GWP development, DMTPL*EUR

  • Channel distribution, MTPL*

  • Key factors influencing claims*Claims frequency

    Road safetyTraffic conditionsAge and driving experience

    Claim costs

    Vehicle repair and spare part pricesMedical care pricesPersonal injuries claims compensationFraudLegal expenses costs

    Sum insured

  • Accidents*The average increase of the number of accidents in the last 5 years is 10,47%The average increase of the accidents with injured is 11%

  • Comparison between the growth of accidents and the number of accidents reported (MTPL)*

  • Indexes*

  • Development of countrys minimum limits*

  • Brief summary*

  • Claims paid, MTPL*

  • Claims settlement pattern, MTPL*

  • The development of claims paid and reserves, MTPL*

  • MTPL ratios*

  • MTPL combined ratio*

  • Claims ratio, MTPL*Avg

  • Technical provisions, MTPL*

  • Claims in court procedure, MTPL*

  • Uninsured and unknown vehicles*

  • Complaints, MTPL*

  • Thank you for your attentionKlime PoposkiThe President of the Council of Experts,Insurance Supervision Agency of the Republic of MacedoniaEmail: klime.poposki@aso.mkwww.aso.mk

    *** MTPL .***** 2011

    *CMI : CMI , . , , .

    , CMI , .**** , ( +) .

    ** , 2011 , , , .

    2010 , 2011 ** MTPL , .

    , , ******

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