What the major companies like Allianz, Cattolica, Generali, Unipol and Vittoria have decided following the drop in road accidents due to the lockdown. The wishes of Ania and Ivass on the RC car
There is no doubt that the lockdown and the greater use of smart working , even during phase 2, made many Italians' cars stand still. With a consequent drop in road accidents and therefore costs for insurance companies. Some have already sought the way to return part of that money and even the policies that have not been effectively exploited, others still have not done it despite appeals from both IVASS, the sector supervisory authority, and Ania, association of insurance companies.
WHAT THE PRESIDENT FRANCO SAID
Yesterday, during the presentation of the Ivass report for the 2019 financial year, the president Daniele Franco – who is also general manager of the Bank of Italy – revealed that, due to the blockade of the economic activities due to the lockdown , 50% was recorded fewer than road accidents. A big saving for the groups of the sector: on average 36-41 euros per policy. Now, however, "if the data confirms the reduction in claims and, therefore, costs for businesses, we expect that the refreshment measures for policyholders will extend".
THE LATEST IVASS DATA
The Institute calculated that in 2019 the prices of motor liability insurance have decreased by 2.7 percent and that in the last 6 years the overall decrease is around 22 percent. Just to make an international comparison, the gap has gone from over 200 to 90 euros.
Going into detail, for cars – with the data released in March – the average premium of motor TPL policies in 2019 amounted to 414 euros (-2% compared to 2018) and there were claims equal to 6.4% of the policies , with an average cost of 4,186 euros. As far as mopeds and motorcycles are concerned, the average rc premium is 271 euros (+ 2% compared to 2018) and the claims were 3.5% of the policies, with an average cost of 6,302 euros. In addition, 23% of the motor liability insurance policies stipulated between October and December 2019 provide for a Second Franco at this point "a reorganization of the sector regulations can no longer be delayed" and the IVASS "is ready to provide its technical contribution in order to increase the efficiency of the market and promote better distributed price reductions, better quality of the offer and greater timeliness of compensation ".
In recent days, Ania also urged insurance companies to redistribute the benefits obtained thanks to the lockdown . "In the RCA sector, in addition to the facilities introduced by the recent regulations, the Companies will put in place specific initiatives, designed in full autonomy, to give back to the community the benefit deriving from the decrease in the frequency of accidents in this period" said President Ania , Maria Bianca Farina, according to an official note. Furthermore, Farina emphasized that now "the most demanding battle is about to move towards the revival of our economy and the insurance companies, which manage a large part of the savings of Italian families, will only be able to strengthen their commitment to support the development of the real economy and the key initiatives for the restarting of the country ". In addition, he continued, Ania "has activated, with its associates, working groups on specific areas specifically identified for the restart, with the aim of presenting concrete proposals to the institutions".
THE MOVE OF UNIPOLSAI
UnipolSai opened the dance with the #unmeseperte campaign launched already in April. The group led by Carlo Cimbri has reserved for customers with Rc auto policy in force on April 10 a voucher worth one month of the premium paid which can be used for renewal of the policy starting from April 22. The minimum value of the voucher is 20 euros. Excluded from this initiative are boat and vehicle fleet insurance policies.
WHAT GENERAL INSURANCE HAS DECIDED
Is the decision of the largest Italian group different and one of the first at European level? Assicurazioni Generali offers the possibility to suspend the car insurance until July 31 – even for just 1 day – for all vehicles. The interruption is active from midnight on the day the operation is carried out and lasts until the request for reactivation. It should also be remembered that the suspension requires an admission to the car since during the stop period the vehicle has no insurance coverage and therefore cannot circulate and cannot be parked on public roads.
CATHOLIC INSURANCE ON THE WAY OF UNIPOL
Cattolica Assicurazioni has instead followed in the footsteps of UnipolSai. The group led by the dominus Paolo Bedoni, who for months struggled with problems at the top and then with the request of IVASS to proceed with a capital increase for 500 million, launched the initiative "With us a month has 30 more days " . In practice, RC Auto customers will be able to have a one-month discount on their current policy. Through your reference agency or by connecting to the website https://30giorniinpiu.cattolica.it/ , starting from May 25, you can request the issue of a voucher thanks to which you can renew the policy expiring from April 2020 to May 2021 or subscribe to a new product for the person, home or business, increasing their level of protection.
THE VICTORY INTERVENTIONS
Vittoria Assicurazioni has also tried to meet the needs of its customers with a series of interventions such as the suspension of legal actions to recover premiums, deductibles and recourses at least until the end of September 2020; incentives for renewal with monthly payment of interest-free premiums and access to the payment of the first installment also by bank transfer and then with other initiatives reserved for other types of policies, such as healthcare and those for operators and operators in the tourism and restaurant sector.
THE ALLIANZ MOVEMENT
Some movements were also registered by the parts of Allianz which launched the Stop & Drive campaign which joins the normal suspension options of the motor liability insurance (typically seasonal) already included in the Allianz contracts and adds – as we read on the site – to what is already provided by the government for auto insurance in the Cura Italia decree relating to Covid-19.
In essence, the Allianz customer can suspend his insurance policy for free whenever he wants from a minimum of 2 days and for a total of 30 days a year, even if not consecutive. for a minimum of 2 and up to a total of 30 days in a year, even if not consecutive. Moreover, the activation of Stop & Drive suspends the third party insurance policy but keeps all the Auto Risks Other insurance protections (Theft, Fire, Burst, etc.) free of charge if included in the contract.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/rc-auto-ecco-mosse-e-mossette-di-allianz-cattolica-generali-e-unipol/?utm_source=rss&utm_medium=rss&utm_campaign=rc-auto-ecco-mosse-e-mossette-di-allianz-cattolica-generali-e-unipol on Fri, 19 Jun 2020 13:45:35 +0000.