Non-Life Insurance in Poland, Key Trends and Opportunities to 2019

Date: 2016-01

“โ€ข The non-life insurance penetration declined during the review period, as overall insurance premiums fell. The penetration rate in the Polish non-life segment stood at 1.4% in 2014.

โ€ข Rising consumer awareness, favorable government regulations, and the emergence of new insurance classes of such as cyber risk and telematics are expected to support a rise in Polish non-life insurance penetration over the forecast period.

โ€ข Liability insurance was the second-fastest-growing category in the non-life segment, recording a review-period CAGR of 5.7%.

โ€ข Civil liability insurance against marine oil pollution is compulsory in the country.

โ€ข In order to improve transparency between banks and insurers, the PFSA issued new regulations on bancassurance โ€“ Recommendation U โ€“ which was effective from April 1, 2015.

โ€ข Flooding is the primary risk for non-life insurers, and is the most frequent natural hazard in the country.”

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