The prognosis from Ergo insurance society states that a rise in every aspect of insurance in 2012.

The Financial and Capital Market Commission of Latvia (FKTK) informs that taking into account ungrounded rumors about the financial situation of "SWEDBANK" AS spread on the Internet media and social networks past weekend, regulators of the financial sector are currently acting in concert with law enforcement authorities to calm down the customers of "SWEDBANK"AS and to find out the source of such worrying information.

With the prices for compulsory vehicle insurance policies remaining low and, following several accidents outside Latvia, the average claims amount high, insurance companies concluded the first nine months this year with a loss of more than LVL 1 million, according to the Latvian Vehicle Insurance Bureau's data on compulsory vehicle insurance.

For the eighth consecutive year, the insurance company BTA has renewed the policy for the Freedom Monument of the Republic of Latvia. Traditionally, this insurance is BTA's present to the city of Riga and Latvia on the anniversary of the country's foundation, and it is presented on the eve of the 18 November -Independence Day. As usual, the Freedom Monument is insured for LVL 1 million (EUR 1.42 million).

BTA Insurance Company is winning the award of international media leader World Finance for the second time. In 2010, BTA was awarded as "Insurer of the Year 2010, in Latvia". The award won by BTA this year - "Insurance Company of the Year, Baltic States" confirms the recognition of the BTA business and achievements throughout the Baltic States.

Car theft or robbery are for 57% of the Latvian drivers the main reason of concern for which they feel CASCO insurance is useful, shows IF Insurance Internet survey in collaboration with Snapshots, which was attended by 631 drivers. Actually, insurers' compensation statistics show that stolen cars claims have not exceeded the 1% limit in recent years. Damages produced by a car crash (53%) or vandalism (52%) are the risks placed on the following second positions by the survey respondents.

Compared to the first half year of 2010, this year the Latvian property insurance sector reports an increase of 25.4%, from EUR 20.9 million to EUR 26.2 million, showed XPRIMM INSURANCE REPORT 1H 2011.

Close to 90% reimbursement for property damages are paid for the insured apartments in connection with various water leaks, shows a recent study released by the Latvian leading property insurance company BALTA. "Our experience shows that water leakage is particularly dangerous for multi-story home, and neighbors owning the apartments bellow the damage source often suffer the greatest losses. I must say though, that only 15% of customers engaged in property insurance are also insuring their civil liability, thereby exposing themselves to the risk that beside their own damages, they will have to bear the losses of flooded neighbors", says Ingus SAVICKIS, Claims Deputy Director.

"Forgetfulness is the reason why 50% of Latvia's population do not purchase the compulsory third-party motor vehicle insurance (OCTA) in time, according to the Latvian Motor Insurers Bureau's (LMIB) survey.

In the first half of 2011, life insurance companies in Latvia wrote premiums totalling 23.7 million lats, according to Latvian Insurers' Association (LIA)

The first six months of 2011 brought no good for the OCTA industry, as insurance companies' profit or loss calculation indicators report a loss of 800 000 lats.

Each owner of a passenger car happens to be involved in a car accident once in 11 years on average, while owners of trucks - once in six years, according to the Latvian Motor Insurers' Bureau's (LMIB) data based on the number of insurance agreements and their terms.

Insured property average compensation accounted for 1 810 lats in 2010, namely, 927 in the private property segment and 3 067 for commercial property, according to the insurance company Ergo.

The average compensation for property damage caused by lightning amounts to 2 680 lats. Damages caused to private property range from 650 to 1 000 lats, while damages to commercial property comprise even larger sums.

In Latvia, life insurance is more popular among men, besides, the main life insurance buyers are people aged 30-50 years.

People named Janis or Liga are relatively conscientious car owners, concluded the Latvian Motor Insurers' Bureau (LMIB), after analysing statistics on road accidents caused by uninsured vehicles.

Comparing year to year, especially, Latvian Midsummer holidays (Jāņi), drivers aged up to 21 are to be blamed for road accidents three times more often than all drivers taken together, insurance company ERGO told the business news portal BNN.

Comparing year to year, especially, Latvian Midsummer holidays (Jāņi), drivers aged up to 21 are to be blamed for road accidents three times more often than all drivers taken together, insurance company ERGO told the business news portal BNN.