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INSURANCE

No specialised insurance yet

THE SLOVAK market is too small for the highly specialised insurance that is tailored mainly to certain professions, such as actors, artists and athletes who might want to insure specific body parts.
Analysts do not expect these insurance policies to reach Slovakia any time soon.

THE SLOVAK market is too small for the highly specialised insurance that is tailored mainly to certain professions, such as actors, artists and athletes who might want to insure specific body parts.

Analysts do not expect these insurance policies to reach Slovakia any time soon.

"I do not expect this type of insurance could appear specifically for the Slovak market," Ivana Čambalíková, spokeswoman of Česká Poisťovňa-Slovensko, told The Slovak Spectator. This type of insurance is useful only for some types of professions - which makes it highly specialised, she said

But Slovakia's accession to the EU, and the possibility of selling insurance from one EU country to another, could gradually lead to the development of this area of insurance.

Foreign insurance companies that already offer such products abroad could also surprise the market by extending this type of insurance to Slovakia, said Čambalíková.

When calculating premiums and insurance amounts for insurance policies, it is always necessary to look for some previous statistics. Slovakia doesn't have statistics for this type of insurance.

Apart from statistical data, the final price for such insurance is set through various insurance-mathematical methods.

There are basically no legislative obstacles to providing this type of insurance in Slovakia, said Denisa Bačová, product manager of the non-life insurance division for ČSOB Poisťovňa.

"Instead, the situation in our market is such that insurance companies just do not offer special insurance, and if they do, it is in isolated cases," she said.


- Marta Ďurianová

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