Premiums in liability car insurance to rise 35-40 percent

Slovak drivers will face another major increase of prices of liability car insurance next year, writes Hospodárske noviny economic daily.

Insurance companies are considering a 35-40 percent increase for 2004, arguing that the current insurance price is too low and results in a loss for them.

Apart from covering damages, companies also have bear the deficit that they inherited from the former monopoly insurer.

On November 1, a revision of the law on obligatory car liability insurance became effective. The law cancels the state regulation of premiums and thus liberalises the market.

The revision also includes a directive of the European Union, setting the exact period of time during which insurance companies are obliged to pay damages to clients.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Get daily Slovak news directly to your inbox

Top stories

News digest: Who is ready for a vaccine in Slovakia

Vlhová won again. Boris Kollár is at home and will meet coalition partners to discuss GP vote. Justice Minister shows a new map.

Illustrative stock photo

Roundup: Bratislava’s Old Market Hall hosts Christmas markets

If you have not watched the 'Dracula' miniseries, filmed in Slovakia last year, it is about time.

Bratislava’s Old Market Hall will provide visitors with Christmas vibes in the coming four weeks. Each week, from Wednesday to Saturday, people can do a little bit of Christmas shopping at the venue.

From COVID-19 miracle to apparent resignation to death and dying

The natural reflex of all failed politicians – and their uncritical fan clubs – is to point to cultural or geographical differences between “us” and “them”.

The COVID-19 ward in the University Hospital Martin