Insurance industry

Premium production by insurance companies operating in Greece grew 6.8% in the first quarter of 2023, compared with the same period last year, the Association of Insurance Companies of Greece said in a report.

The Single Social Security Entity is entering a new digitization phase, as seven reforms are already under way which, when completed, are expected to turn EFKA into a truly modern organization.

Following a furore after a private insurer announced a hike in the top-up health insurance premium, the government decided to scrap this voluntary but virtually essential type of insurance and replace it with a new mandatory contribution, taking private insurers out of the equation.

Measures to support and assist the relatives of the 57 people who lost their lives in the Tempe train collision of February 28, as well as passengers who were injured in the crash, are provided for in a bill submitted to Parliament on Friday by the Development and Investment Ministry.

Natural disasters increased insurers' costs in 2022, with inflation pushing up the bill even more, reinsurer Swiss Re said yesterday, warning of likely further rises in the future due to climate change.

Nine out of 10 self-employed professionals, freelancers and farmers out of a total of 1.3 million who are insured in the Single Social Security Entity (EFKA) have once again chosen the lowest contribution category for 2023.

Ljubljana – The insurance group Sava saw its half-year net profit reduced by a third year-on-year to EUR 28.9 million as operating revenue remained level at EUR 364.2 million. The company said the drop was mainly due the frequency of vehicle insurance claims returning to pre-pandemic levels.

According to an insurance company poll

· The average SME insurance claim exceeds the monthly net profit of 45 per cent of the UK's SMEs

· The most common claims by SMEs are for accidental damage, theft and escape of water

· Nearly half of small businesses affected by disruption over the past five years

Moldovan citizens returning home on charter flights organized by the authorities are now obliged - together with the cost of the ticket - to pay for a COVID-19 test on arrival under an order issued on Friday by the Moldovan Civil Aviation Authority.