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Insurance premiums and damages 2004, 2005 and 2006

In order to contrast the phenomenon of insurance frauds, ISVAP (Istituto per la vigilanza sulle assicurazioni private e di interesse collettivo - the Italian regulatory authority of the insurance market) created a register of car accidents in which insurance companies keep track of accidents which involved their policy holder. The following tables and graphs are made upon data taken in sucha register.

In table 1 is reported the data concerning the accidents happened in the eight provinces of Piedmont: it i spossible to note that the sharpest decrease is about the accidents with lethal consequences. At the provincial level and for 2006 the decrease of deadly accidents has been more relevant in the provinces of Novara and VCO, while, considering the total number of accidents, the most relevant decreases happened in the provicnes of Biella and Torino.

table 1 - Number of Road Accidents (2004-2006)

	accidents			with injured people			with fatalities
	2004	2005	2006	2004	2005	2006	2004	2005	2006
Alessandria	28,242	28,542	27,732	3,736	3,615	3,336	31	34	24
Asti	14,483	14,168	13,861	1,508	1,378	1,378	11	13	13
Biella	12,911	11,700	11,142	1,093	979	932	8	5	5
Cuneo	37,229	35,775	35,336	4,523	3,725	4,008	50	41	30
Novara	23,169	22,538	21,838	3,061	2,829	2,753	27	35	11
Torino	201,788	196,002	188,973	27,529	26,373	27,588	118	103	90
VCO	9,642	9,337	9,541	1,093	1,076	1,014	8	7	3
Vercelli	10,289	9,977	9,645	1,133	1,033	1,068	14	11	9
Piedmont Total	337,753	328,039	318,068	43,676	41,008	42,077	267	249	185

Such results are confimed by the data related to the number of injured people and fatalities caused by road accidents happened in the region in the same time period (table 2): the decrease of the numebr of injured, although relevant, is less significant than the one regarding the number of fatalities.

table 2 - Number of Injured People and Fatalities (2004-2006)

	injured people			fatalities
	2004	2005	2006	2004	2005	2006
Alessandria	4,947	4,784	4,238	35	36	27
Asti	1,963	1,797	1,728	11	13	13
Biella	1,423	1,293	1,143	8	6	5
Cuneo	6,086	5,156	5,300	55	41	31
Novara	4,003	3,754	3,562	27	40	12
Torino	38,206	37,437	36,745	130	109	94
VCO	1,461	1,426	1,256	8	7	3
Vercelli	1,500	1,437	1,421	15	11	11
Piedmont Total	59,589	57,084	55,393	289	263	196

The decreases just pointed out are confirmed by the economic data about the payments: decreases seem to be amplified and, besides the data about 2006 which seems to be still incomplete, such a result is testified in 2005 by a decrease of payments at a regional level of 3.85% compared with a decrease of accidents of 2.88%.

tabella 3 - Payments (2004-2006, thousand of euro)

	total payments			payments for injuries			payments for deceases
	2004	2005	2006	2004	2005	2006	2004	2005	2006
Alessandria	54,694	53,403	36,134	13,490	10,991	4,433	2,156	814	1,066
Asti	25,047	22,132	17,802	3,750	3,240	1,662	908	694	317
Biella	19,107	17,778	13,792	2,618	1,949	1,226	275	44	0
Cuneo	74,197	64,492	49,182	16,488	12,696	6,129	3,197	3,149	1,084
Novara	43,567	47,188	28,845	8,540	10,726	3,129	1,032	3,765	0
Torino	350,064	340,700	266,256	63,279	58,194	28,197	9,795	6,443	3,518
VCO	17,810	17,439	10,753	3,358	4,732	1,143	652	1,565	1
Vercelli	20,515	18,580	14,777	4,420	2,074	2,789	1,733	248	440
Piedmont Total	605,001	581,712	437,541	115,943	104,604	48,708	19,746	16,721	6,426

figure 1 - Number of Accidents and Value of Payments (thousands of euro) in Piedmont between 2004 and 2006

Figure 1 confirms what has been just said by stressing the decrease stronger for premiums than for the total number of accidents.

Figure 2 presents the injury index (to which refers the left vertical axis) and the fatality one (to whih refers the right vertical scale). considering the different scales of values, it is clear that the stronger decrease is the one of the fatality index (which decreases, between 2004 and 2006 by the 28%) while the injury one, which does not present a worsening trend, presents an almost stable dynamics (in fact it decrease by the 1.29% in two years).

figure 2 - Injury and Fatality Indexes (Number of Injured People and Fatalities over a Thousand Accidents) in Piedmont between 2004 and 2006

Elaboration by the Centro di Monitoraggio Regionale della Sicurezza Stradale del Piemonte upon data provided by ISVAP.

last modified 2010-10-27 17:10