Road Traffic Injury – Causing Accidents in Greece | March 2022

According to the Hellenic Statistical Authority’s provisional data ,the Road Traffic Accidents, which occurred throughout the country and caused the death or injury of people, increased by 21.5% in March 2022 compared to the corresponding month of 2021 (762 in March 2022, compared to 627 in March 2021 ).

More precisely, 31 persons were killed, 27 were seriously injured and 874 were slightly injured, compared to 35 dead, 30 seriously injured and 682 slightly injured in March 2021, showing a decrease of 11.4% in deaths, a decrease of 10, 0% in severely injured and an increase of 28.2% for slight injuries.

The insurance companies that reduced their insurance premiums are affected negatively.

This increase of serious road accidents increase dramatically the compensations that insurance companies are required to pay and creates chain problems due to the reduction of insurance premiums recorded in 2021.

The technical results of insurance companies have been affected by

  • the increase in accidents (due to the return to normality after Covid)
  • the reduction of tariffs of past years relating with the cost of auto insurance
  • from rising repair costs (spare parts, labor work) due to rising inflation.

However, everyone thinks that if an insurance company falls into the trap of chain tariff reductions, it will be difficult to increase again the insurance premiums, because it has addicted its policyholders to this policy (reduction of premiums). So most try to keep premiums stable for a long time or proceed with very small increases (2-5%) in premiums.

Source : Elstat (Hellenic  Statstical Authority)