Last year every working day BTA made an average of 17 insurance indemnity payments to accident victims

Major and minor accidents, serious illnesses and other health issues often occur unexpectedly and at times when there are no signs of the emerging problems. They may include everyday situations at home, on the streets or at entertainment venues, and such accidents happen every day. Last year, the insurance joint-stock company “BTA Baltic Insurance Company” (BTA) handled an average of 17 accident insurance indemnity claims per working day and paid out an average of more than EUR 210 per claim.

“Unfortunately, the old Latvian saying ‘Misfortunes never come singly’ remains very relevant also at the present time. Every day, dozens of people arrive at medical institutions after their day started like thousands of others, until one careless or unfortunate coincidence caused disruption to their daily life. In 2023, BTA paid out more than EUR 800,000 to its clients for the received injury and illness treatment claims. Indemnity claims for healing accident traumas reached EUR 425,000 of this amount. The high rate of claims serves as a clear reminder that accident insurance pays off,” as explained by the Director of BTA Insurance Claims Handling Department Kārlis Liepiņš.

According to the data collected by BTA, a total of EUR 390,000 was paid out for injury claims in 2023 which is on average EUR 200 per claim. An additional EUR 163,000 was paid for medical expenses and EUR 70,000 – for incapacity for work. Insurance claims were also paid out due to the death of a family member. The total amount thereof during the year reached EUR 190,000.

Clients are more actively insuring themselves against critical illnesses that require expensive and long treatments. Last year, the most frequent indemnity payments were made to patients diagnosed with cancer or Lyme disease, and also heart attack survivors. The total number of claims reached 78 and the average indemnity amount was EUR 1000.

Whereas the most expensive individual claims included an organ transplantation worth EUR 10,000 and injuries caused by a road traffic accident in the amount of EUR 12,350.

About BTA
BTA Baltic Insurance Company is one of the leading insurance companies in the Baltics, offering the broadest range of non-life insurance services in Latvia, Lithuania and Estonia. BTA employs more than 1,000 employees in the Baltics. The sole shareholder of BTA is Vienna Insurance Group AG (VIG), the leading insurance group both in Austria and in the entire Central and Eastern European (CEE) region. Around 50 insurance companies in 30 countries form a Group with a long-standing tradition, strong brands and close customer relations. The more than 25,000 employees in the VIG take care of the day-to-day needs of more than 22 million customers. VIG shares have been listed on the Vienna Stock Exchange since 1994. The VIG Group has an A+ rating with stable outlook by the internationally recognised rating agency Standard & Poor's. VIG cooperates closely with the Erste Group, the largest retail bank in Central and Eastern Europe.

Additional information:
Elīna Zvejniece
Marketing and Public Relations Department Director
BTA Baltic Insurance Company AAS
e-mail elina.zvejniece@bta.lv
tel. 66936074, mobile 29374827