There’s a war frequency benefit on the roads of Central Europe
Central Europe may be avoiding the post-pandemic rise in auto claims frequency as war-era fuel prices scare drivers off the road as much or more than the pandemic, Vienna Insurance Group (VIG) suggested of its operations across the region.
“In Central Europe, differently than in Western Europe, there is a correlation between fuel prices and mileage driven, and therefore frequency,” VIG board member Peter Höfinger (pictured) noted for his company’s Q1 earnings call.
The implication: The spike in fuel prices following the Russian invasion of Ukraine may have pushed central Europeans onto public transportation as well as lockdowns had kept them at home.
“We see a clear trend,” he said of a “tendency” for declining frequency across the region.
Claims inflation remains too varied country by country across the region to speak of trends, he noted. “It’s not yet a clear picture.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze