Do you want to listen to the audio version of the article? click here,
The Italian Government is implementing a series of strategies to address and combat price increases relating to Motor Vehicle Third Party Liability (Motor TPL).
In a context of growing concerns about the economic burden on citizens, the executive has convened the Commission for Rapid Alert Price Surveillance.
The latter, established with the Transparency Decree, has the task of monitoring and verifying the dynamics of the insurance sector linked to motor vehicles.
During the last meeting, which was attended by key figures such as the Minister of Business and Made in Italy Adolfo Urso, the undersecretary Massimo Bitonci and the Guarantor for price surveillance Benedetto Mineo, the imminent presentation of the Competition bill was discussed.
This bill aims to introduce measures to simplify processes for policyholders and stimulate competition in the sector.
Despite this, according to ministerial analyses, premiums in absolute value remain higher than in the other countries mentioned. This highlights the need not only for interventions aimed at reducing direct burdens on motorists, but also to the creation of more favorable conditions for competition between insurance companies.
The Government prepares measures on car insurance
The Competition bill represents a milestone in the government’s intention to reform the field of car insurance. Among the innovations announced by Minister Urso are more streamlined procedures for transferring from one company to another and the possibility for insured persons to transfer the data contained in the “black boxes” even when changing supplier.
Such measures will not only make life easier for users, but they will also have a positive impact on policy prices.
The Commission meeting was significant a further step in the dialogue between the Government and representatives of the insurance sector.
The goal is to continue in the direction undertaken already in February with the start of discussions on the reorganization of the national insurance system. The ministry aims to guarantee efficiency and sustainability to the sector, while protecting the rights of citizens and businesses.
Numbers play a crucial role in assessing the impact of policies adopted so far. According to Istat data, although there is a slowdown in the annual growth of spare parts prices, the increase recorded in car insurance rates remains significant (+6% compared to the previous year).
However, comparing these increases with those recorded in other European countries such as France, Spain and Germany, it emerges that Italy presents a less accentuated dynamic.
