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At present, the Guarantee Fund has dropped below the 17 million mark and there are several reasons why insurer contributions to this fund are insufficient and do not cover expenses . One of the most important factors influencing the shortage of funds available is the fact that many victims are paid instead of the insolvency insurance company instead of Balva, a member of LTAB's board of directors, Juris Stengrevics, explained Wednesday at Labrīt Stengrevics also points out that the Shoe Guarantee Fund offers the least opportunity to invest in its badets, as well as discounts granted by insurance companies to farmers and disabled people .
The size of the Guarantee Fund is influenced by In addition, the increasing amount of compensation, which is quite explicit, the most expensive everything becomes, including vehicle repair, treatment of victims and others. Stengrevics however emphasizes that the impact of these costs on the Guarantee Fund is not as high as the factor "price" and the compensation of farmers and persons with disabilities. Therefore, the LTAB advocates seeking funds elsewhere than in the current legislation on the Guarantee Fund.
However, it is clear that, to maintain the necessary amount of the Guarantee Fund, OCTA prices will increase. Insurers can not generate their own money, they can only withdraw from their clients and pay them in different funds and also to the victims, so they have to pay more. somewhere, they must also get more from their customers, "- says Stengrevics.
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