The overdue payments of customers towards insurance companies are rapidly growing – according to data from the National Debt Register. Currently, it stands at PLN 593.9 million, which is 44 percent more than in the same period last year. The largest amount, PLN 369.3 million, is owed by companies, whereas consumers owe PLN 224.6 million. For consumers, the most common reason for getting into debt is not cancelling car insurance policies, which automatically renew. In the case of entrepreneurs, the main source of arrears are unpaid insurance guarantees.
According to data from the Polish Insurance Chamber (PIU), In 2023, 24 million people had life insurance, including 11.7 million under group insurance, which is a small decrease of 3.6 percent compared to 2023. Private health insurance is becoming increasingly popular. In 2023, they covered almost 5 million Poles, or nearly 5 percent more than the previous year. A similar trend is observed in the segment of civil liability (OC) and comprehensive car insurance (AC), where in 2023 the number of such policies amounted to 28.1 million and 7.4 million respectively. Compared to 2022, the number of OC policies increased by about 2 percent, and AC policies – by almost 6 percent.
Unfortunately, alongside millions of issued insurance policies, there are also millions of debts that customers owe to insurers. This debt is now PLN 593.9 million and is PLN 180.6 million higher than a year ago. The largest amount, PLN 369.3 million, is owed by companies, while consumers owe PLN 224.6 million.
The typical debtor – a middle-aged man with compulsory third party insurance
Among consumers, the least reliable in paying insurance premiums are residents of the Mazowieckie province, who owe over PLN 37 million. They are followed by debtors from Lower Silesia with arrears of just over PLN 25 million, and third place is occupied by residents of Wielkopolska with a debt of PLN 24.9 million.
Three quarters of debtors are men. This is because they are mostly car owners, which obligates them to pay OC premiums. They are also the most likely to enter into home or apartment insurance contracts, which they then fail to pay. As a result, insurers enter them into the National Debt Register.
Problems with paying for policies mainly concern Poles aged 36-45, who have arrears of PLN 67.9 million. Another group with high arrears are people aged 26-35, who collectively have not paid premiums amounting to PLN 56 million. Seniors have the smallest arrears with debts reaching PLN 11.9 million.
Entrepreneurs do not pay for insurance guarantees
For businesses, as in 2023, the largest debtor to insurance companies is the transport, forwarding and logistics (TSL) industry, whose overdue receivables from unpaid policies reach PLN 145.1 million. It is followed by wholesale and retail trade – PLN 60.2 million, with construction closing the podium with PLN 53.7 million.
Analyzing company arrears towards insurance companies in terms of legal form, it can be noticed that corporations have the largest debt, which together have not paid premiums to the amount of nearly PLN 214.6 million. Sole proprietorships also owe a significant sum, amounting to PLN 154.8 million.
The bulk of these arrears are unpaid OC premiums and insurance guarantees.
– Polish companies are increasingly using insurance guarantees. This is a type of collateral, which in case of contract breach is paid to the contractor. But insurance guarantees also protect companies in other situations: for example, when they participate in tenders or carry out contracts for other entities. To provide such a guarantee for a business, the insurer needs to thoroughly check the company’s financial condition. The National Debt Register is a valuable source of such knowledge. Over the past five years, insurance companies have drawn over a million reports from the National Debt Register, most of which concerns entrepreneurs– informs Adam Łącki, CEO of the National Debt Register Economic Information Office.
You have to cancel the policy, it does not lose validity by itself
In recovering receivables, insurance companies use the services of external companies, which have experience in handling mass receivables. Among the orders that go to Kaczmarski Inkasso, unpaid OC policy premiums – especially for vehicles, OC in private and professional life, as well as AC (comprehensive car insurance) and assistance – dominate. There is also a large number of customers who take out home and apartment insurance contracts, but ultimately do not pay these policies.
– Customers often forget to pay the premium. They also do not terminate the contract, for example when they sell a car and the policy in their name is automatically extended. They are not aware of this, so when a negotiator from a collection company contacts them, they are surprised. His role is primarily to explain to the debtor where the arrears came from and how to avoid them in the future. Only then can you move on to the substance, that is, agreeing on the repayment of the debt – explains Jakub Kostecki, CEO of the debt collection company Kaczmarski Inkasso.
Source: https://managerplus.pl/600-milionow-zlotych-tyle-polacy-sa-winni-firmom-ubezpieczeniowym-45932
