Record Payout: Insurance Compensation Hits 362 Million Dinars by End of August
- According to recent data from the Central Bank, insurance companies have paid out a total of 362 million dinars in compensation, marking a significant increase from the 328...
- Car insurance claims accounted for the largest share of compensation, reaching 176 million dinars, while medical insurance claims totaled 131 million dinars.
- The data also revealed that total insurance premiums have increased to 569 million dinars, up from 516 million dinars in the same period in 2023.
Image of a car accident in Fort Pierce, Florida
Insurance Companies Pay Out 362 Million Dinars in Compensation
According to recent data from the Central Bank, insurance companies have paid out a total of 362 million dinars in compensation, marking a significant increase from the 328 million dinars paid out in 2023.
Car insurance claims accounted for the largest share of compensation, reaching 176 million dinars, while medical insurance claims totaled 131 million dinars.
The data also revealed that total insurance premiums have increased to 569 million dinars, up from 516 million dinars in the same period in 2023.
Vehicle insurance premiums accounted for the largest percentage, with 32% or 189 million dinars, followed closely by medical insurance premiums, which totaled 180 million dinars.
Furthermore, insurance premiums have increased by 10.3% at the end of August compared to the same period in 2023, while claims have increased by around 10.4% in the eight months of 2024.
In addition, a total of 1,154 complaints were submitted by consumers, with 97.6% related to car insurance. Fortunately, 317 cases were settled during this period.