insurance company "GPI Holding" predicts the number of insured
citizens will decrease due to declining business revenues.
“Many companies are losing revenue, especially the tourism and hotel sectors, as a result, they can stop using the services of private insurance companies. This is likely to be temporary and now it is very important not to suspend providing insurance services, ” say in the company.
Michael Japaridze, Executive Director at Ardi, also speaks about the risks faced by the insurance sector during the crisis. According to Japaridze, insurance is reducing in the secondary sectors - such as liability insurance, insurance of construction projects and less concerns healthcare.
“Health insurance is always a priority, that’s why it is abandoned last. The problem is a delay in monthly payments, which can lead to the termination of the contract. We are getting into a deeper crisis, and while the state universal health care program is reducing the volume of services, the private sector is assigned a special responsibility, ” Ardi CEO notes.