Weekly Insurance Market Updates in-revento.com

Home Industry news Weekly Insurance Market Updates

Weekly Insurance Market Updates

Insurance news August, 28 2025

UK: Briefing: Focus on 2026 key for motor insurers as next year could be ‘ugly’

27 Aug 2025

Ernst and Young (EY) predicts worsening conditions for the UK motor insurance market, with net combined ratios (NCRs) rising to 100% in 2025 and 107% in 2026, up from 97% in 2024. This suggests insurers will break even in 2025 and face losses in 2026, driven by falling premiums and ongoing claims inflation. Despite a brief premium rise in 2024, a 6% drop is expected in 2025 amid market softening. Industry leaders warn that persistent inflation and the gap between premium income and claims costs could further strain profitability. Insurers like Sabre and Allianz are already adjusting strategies to maintain financial resilience.

In Italy, nearly 3 million vehicles are uninsured: the cost to honest drivers and the state

27 Aug 2025

In Italy, the number of uninsured vehicles has risen to an estimated 2.9 million in 2024—up nearly 13% since 2022—according to the National Union of Insurance Agents (SNA). This growing issue puts financial strain on the Road Victims Guarantee Fund, which compensates victims of accidents involving uninsured or unidentified vehicles. The economic impact exceeds €5 billion, including over €1.3 billion in lost tax revenue. SNA calls for urgent solutions, including data-sharing between vehicle and insurance registries, public awareness campaigns, and affordability measures for vulnerable drivers.

Spain: Car insurance prices up 10%: What role does the new compensation law play?

22 Aug 2025

Car insurance premiums in Spain have risen nearly 10% over the past year, partly due to a new compensation law set to take effect in January 2026. The reform increases payouts for accident victims, particularly in severe cases, and expands coverage requirements to include personal light vehicles like electric scooters. As insurers face higher compensation costs, these are being passed on to consumers through premium hikes. The OCU advises drivers to compare insurance offers carefully, considering both price and coverage needs based on their vehicle's value and age. Choosing the right policy is now more strategic than ever, balancing cost with comprehensive protection.

Spain: Insurance claims and aid: What compensation can those affected by the fires receive?

21 Aug 2025

Wildfires in Spain have destroyed over 400,000 hectares this summer, causing massive financial losses for homeowners, farmers, and livestock owners. While the government has pledged aid and will declare the affected regions as disaster zones, insurance claims remain crucial. Basic home insurance often covers fire damage, but compensation varies depending on the policy, and claims must be reported within seven days. Agricultural and livestock losses are also covered under most rural insurance policies, though those without coverage must rely solely on government aid. Meanwhile, train passengers impacted by wildfire-related disruptions can claim ticket refunds but not additional expenses like hotel losses.

Irish Life announces further price hikes for health insurance plans

21 Aug 2025

Irish Life is raising the cost of most of its health insurance plans by an average of 3% from October 2025, marking its third increase this year. This could add €60 to €185 to the average family’s annual bill. The Health Insurance Authority called the hikes “unwelcome,” urging consumers to shop around for better value. Experts, including Dermot Goode, warn that further increases are likely as insurers prepare for the peak renewal season. He advises policyholders to avoid automatic renewals and negotiate for better deals.