Autopolis cash cow for insurers thanks to corona | Money

In the second quarter of this year, at the provisional low point of the corona crisis, insurers received € 584 million in third-party and all-risk claims. That was € 785 million in the same quarter last year, DNB notes in a statistical news report on Thursday.

In several countries, drivers are reimbursed a percentage of their premiums because of this ‘windfall’ for insurers. That is not happening in the Netherlands yet.

Profits on car insurance are associated with higher claims on the grounds of incapacity for work and absenteeism at general insurance companies. In the second quarter of 2020, the total amount of these claims was € 1.36 billion. That was still € 968 in the last quarter of 2019.

Fire and property damage was slightly lower than in the second quarter last year. In total, insurance claims from non-life insurers fell by 5% in the second quarter of 2020 from € 2.88 to € 2.74 billion, according to DNB.

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