Risks in business becoming more pronounced, companies in Croatia insufficiently insured

Insurance of business users is mostly based on basic, most often legally conditioned insurance, while with all other types of insurance there is room for additional awareness of the need and importance of insurance in business – this was the message from the round table Insurance in the Economy – How to Protect Yourself from Risks in Business?, held at the Croatian Chamber of Economy and presenting the results of the survey on the use and knowledge of insurance among business users.

According to the latest EIOPA data, out of the 30  observed European countries, Croatia ranks as low as 24th in terms of non-life insurance, while vehicle insurance accounts for more than 50 percent of the portfolio of all non-life insurance, stressed Ljiljana Marić, Head of Insurance, Leasing and Factoring Supervision Division at Hanfa, in her presentation.

Apart from Ljiljana Marić from Hanfa, other participants in the discussion were Ana Zorić, Head of Directorate for Economic Affairs and Financial System of the Ministry of Finance, Sanel Volarić, President of the Board of Groupama osiguranje, Anđela Šutija, President of the Association of Insurance and Reinsurance Distributors at the Croatian Chamber of Economy and CEO of ANO d.o.o., and Albert Šestan, President of the Board of Alca Zagreb.

The participants concluded that everyone who operates in the insurance market should put intense effort into educating and raising awareness of the business community, as well as society as a whole, with regard to the potential risks for which insurance policies can be contracted, thus reducing financial damage in business.

The survey is available here.