DEVELOPMENT OF MOTOR HULL INSURANCE IN SERBIA 2000–2020

The beginning of the 21 st century was marked as the era of automobiles. The slogan ”An automobile is a luxury” has been replaced by a new one, ”An automobile is not a luxury, but a necessary means of transport”. After 100 years, an automobile went from being a luxury item to an optimal means of transport. Today, it is hard to imagine life without automobiles. A motor vehicle enables easier and faster reaching any point in a city, a country, a continent and even another continent. Transport by an automobile, as one type of land transport, is the most widespread and takes a leading position in transport of passengers, goods and various types of cargo over diff erent distances. In addition to the convenience, an automobile is also a cause of various types of accidents. Due to its nature and method of use, it can cause damage both to itself and to another automobile, a driver, a passenger, a pedestrian, but also to a third person and/or his/her property. Due to such losses, it is convenient and important to off er several insurance lines, among which motor hull insurance is one of the most common insurance lines. The aim of the paper is to show a long-term development of motor hull insurance and determine its place, role and signifi cance in non-life insurance market in our country. The analysis includes the most important insurance categories, starting with market participants and insurance acquisition, through claims and technical reserves, to ratios. The focus is on a more detailed digital presentation of those insurance categories because numbers, in any case, refl ect the issues that are the subject of this paper more precisely and more objectively than any text, with a greater possibility for a reader to make his/her own analyses and conclusions. In addition to motor hull insurance analysis, the average annual share of acquisition, claims and technical reserves of five largest non-life insurance lines will also be presented.

Key words: motor vehicle, motor hull insurance, premium, claim, ratios