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1 In 10 Car Owners Switch Insurers In Hungary

• 2 Nov 2020 12:45 PM
• Budapest Business Journal

More than 1.1 million vehicles are still involved in the November compulsory motor third-party liability insurance (kgfb) campaign, and every tenth owner changes insurers based on the trends of recent years, the Association of Hungarian Insurers (MABISZ) said, according to origo.hu.

According to the organization, insurers will again publish their kgfb premiums for yearend anniversary contracts by November 2 at the latest.

Customers must receive this notice 50 days prior to the insurance anniversary from their insurer.

Reinsurers must terminate their current contract 30 days before the insurance anniversary, no later than December 1, then must conclude a new contract with the new insurer by December 31 at the latest.

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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