Slovenia's Insurance Supervision Agency has issued a position clarifying that insurers must not disregard information they hold about an insured person's temporary residence when setting motor insurance premiums. Permanent residence provides a presumption of where a vehicle is mainly used, but registered temporary residence can establish that the insured actually lives and uses the vehicle elsewhere. The position follows a finding by the Advocate of the Principle of Equality that an insurer acted discriminatorily by using a permanent address despite knowing the insured lived in an area with lower insurance risk. Insurers may use residence to assess risk and set premiums where it justifiably affects the risk assessment. Geographical segmentation must rely on credible, verifiable data, such as official accident and claims statistics or the insurer's own historical experience. Insurance agents must inform policyholders of the option to use temporary residence when this would be more favorable to them. Insurers are expected to align their actuarial bases and business terms with the equality ruling and the agency's position where necessary. Compliance will be subject to future supervision.
Slovenia's Insurance Supervision Agency clarifies duty to consider temporary residence in motor insurance pricing
Slovenia's Insurance Supervision Agency has clarified that motor insurers must consider temporary residence information they hold rather than rely solely on a permanent address when calculating premiums. Insurance agents must highlight the option of using temporary residence where it would benefit the policyholder. Insurers are expected to adjust their actuarial bases and business terms where necessary, with compliance subject to future supervision.