You will say that in the past year everything around has increased in price, but the money in the wallet has not increased? That only means one thing: you don’t work in the insurance industry! And you probably have nothing to do with the sale of so-called OSAGO policies. The activities of the citizens involved in this business can be fully characterized by the saying: “for whom is war, and for whom is mother dear.”
It is difficult to say otherwise about the official OSAGO market statistics for 2022, published by the Russian Union of Motorcycle Insurers (RSA). This charitable organization of lobbyists, if anyone didn’t already know, vigorously defends the interests of insurance companies on OSAGO. As a rule, to the detriment of the interests of car owners.
They do not have a similar “union” and are not expected to have one. In fact, this is why OSAGO insurers thrive, and car owners pay them more and receive less and less each year. The results for 2022 are therefore fully in line with this trend. Although it seems: around the crisis, sanctions and other hardships. All this would affect both drivers and insurance companies equally.
But no! Over the past year, the proceeds from the sale of CMTPL wrappers from insurers rose at once by 37.5 billion rubles. From 236 billion in 2021 to 273.5 billion in 2022. Almost 40 billion for the year “up” is a record. Especially surprising in the context of the country’s overall economic turmoil.
Could it be that the immensely talented businessmen of the insurance companies have been able to sell car owners far more policies? No, it’s just the opposite: they only signed about 40 million contracts. Against 42 million a year earlier. That is, they sold 5% fewer policies and received 16% more money for them. Great “company”! An attentive reader will say that once in 2022, spare parts and consumables for repairs, works, etc. have increased in price, which means that the cost of insurance to pay damages to accident victims has increased.
And again – no. The total expenditure of insurers for these purposes over the past year amounted to only 157.3 billion rubles. That is, they “sheared” 37.5 billion more rubles from car owners and paid them only 4.3 billion more. Craftsmanship and no cheating. The difference between the proceeds from the sale of policies and the total payments under OSAGO for 2022 reached a completely indecent value – more than 116 billion rubles.
The situation looks particularly cynical “as a percentage”. The law requires insurers to spend at least 77% of the proceeds from the sale of OSAGO policies on accidental damage compensation. Meanwhile, companies paid 65% to car owners in 2021, and even less in the crisis year 2022 – 58% of what was collected from them! Despite the fact that the Central Bank, which is obliged to ensure the implementation of laws in this area, looks at the shame for years and does nothing at all!
You will say that in the past year everything around has increased in price, but the money in the wallet has not increased? That only means one thing: you don’t work in the insurance industry! And you probably have nothing to do with the sale of so-called OSAGO policies. The activities of the citizens involved in this business can be fully characterized by the saying: “for whom is war, and for whom is mother dear.”
It is difficult to say otherwise about the official OSAGO market statistics for 2022, published by the Russian Union of Motorcycle Insurers (RSA). This charitable organization of lobbyists, if anyone didn’t already know, vigorously defends the interests of insurance companies on OSAGO. As a rule, to the detriment of the interests of car owners.
They do not have a similar “union” and are not expected to have one. In fact, this is why OSAGO insurers thrive and car owners pay more and receive less and less from them every year. The results for 2022 are therefore fully in line with this trend. Although it seems: around the crisis, sanctions and other hardships. All this would affect both drivers and insurance companies equally.
But no! Over the past year, the proceeds from the sale of CMTPL wrappers from insurers rose at once by 37.5 billion rubles. From 236 billion in 2021 to 273.5 billion in 2022. Almost 40 billion for the year “up” is a record. Especially surprising in the context of the country’s overall economic turmoil.
Could it be that the immensely talented businessmen of the insurance companies could “sell” car owners many more policies? No, it’s just the opposite: they only signed about 40 million contracts. Against 42 million a year earlier. That is, they sold 5% fewer policies and received 16% more money for them. Great “company”! An attentive reader will say that once in 2022, spare parts and consumables for repairs, work, etc. have increased in price, which has increased the insurance costs for compensation of damage to accident victims.
And again – no. The total expenditure of insurers for these purposes over the past year amounted to only 157.3 billion rubles. That is, they “sheared” 37.5 billion more rubles from car owners and paid them only 4.3 billion more. Craftsmanship and no cheating. The difference between the proceeds from the sale of policies and the total payments under OSAGO for 2022 reached a completely indecent value – more than 116 billion rubles.
The situation looks particularly cynical “as a percentage”. The law requires insurers to spend at least 77% of the proceeds from the sale of OSAGO policies on accidental damage compensation. Meanwhile, companies paid 65% to car owners in 2021, and even less in the crisis year 2022 – 58% of what was collected from them! Despite the fact that the Central Bank, which is obliged to ensure the implementation of laws in this area, looks at the shame for years and does nothing at all!
Source: Avto Vzglyad
Donald Salinas is an experienced automobile journalist and writer for Div Bracket. He brings his readers the latest news and developments from the world of automobiles, offering a unique and knowledgeable perspective on the latest trends and innovations in the automotive industry.