Citizens in Latvia are increasingly choosing to insure themselves against accidents, and last year GWP in the segment rose by 12%, reaching EUR 20.1 million. Consequently, paid claims also grew by 10%, to EUR 7.6 million, according to data from the Latvian Insurers Association (LAA)*.

“Last year, the most premiums were written in January and September, while the amount of compensation paid out has been very consistent throughout the year”, commented the LAA President Jānis Abāšins.

Continuing the educational campaign on various types of insurance, LAA in cooperation with partners has prepared an accident insurance roadmap. It explains accident insurance in simple language, using the roadmap principle, including which accidents are usually covered by accident insurance, which services may be additionally included and what the insurance does not cover.

*Data source: Data compiled by the Bank of Latvia on performance results of 4 risk insurers operating in the Republic of Latvia (Balta, Balcia, Baltijas Apdrošināšanas Nams and BTA) and 6 branches of foreign risk insurers (Compensa, ERGO, Gjensidige, If Apdrošināšana, Swedbank P&C, Telia), as well as 2 life insurers (CBL Life and SEB Life and Pension Baltic SE) and 4 branches of foreign life insurers (Compensa Life, ERGO Life, SB draudimas, Swedbank Life) in the territory of Latvia.