“With continuous development, the General Liability industry is evolving” notes the Association of Insurance Companies of Greece (EAEE) in its announcement on the occasion of the publication of the relevant research data.
According to the data, the number of contracts in the sector increased by 19.8% in 2021 compared to the previous year. At the same time, the total production of insurance premiums of this sector increased by 18.9% compared to 2020, and is estimated at 123.9 million euros.
For the specific contracts, the initial assessment of the compensations from the Insurance Companies exceeds 19 million euros for a total of 6,115 losses declared, an amount which is expected to multiply in the coming years according to the reasonable forecasts for the development of both the compensations and the number of damages.
Regarding the distribution of the number of Civil Liability insurance policies, 52.4% concerned the coverage of general civil liability (hoteliers, manufacturers, industrial risks, etc.), 28.1% the coverage of professional liability (doctors, engineers, lawyers, mediators, accountants, etc.), 14.5% employers’ liability and 5% other coverages.
Commenting on the results of the study, the chairman of the Committee of Civil Liability and Professional Liability of the EAEE, G. Zorgno, said: “From 2017 to 2021 the production of the Civil Liability Insurance industry is moving upwards, which proves that more and more professionals recognize the importance of insurance coverage of their responsibilities.
This fact is undeniably positive for the course of the sector. Of course, there is still a long way to go as there remains a large protection gap in many professional categories, which should be made aware and understand on the one hand the responsibilities deriving from the exercise of their tasks and how they are protected by Civil Liability Insurance on the other.”
Source: RES-MPE
Source: Capital
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