A drop in injuries from road accidents since 2000 has saved Israelis NIS 12
billion in required insurance, the Capital Markets, Insurance and Savings
Department of the Finance Ministry announced Monday.
According to a study
by Ron Bina Actuaries using data from Clal insurance, the probability of
accidents fell 28 percent from 2000 until 2011.
Alongside an increase in
competition, fewer accidents brought insurance rates down 39%, from an average
of NIS 2,648 in 2000 to NIS 1,618 in 2011. In 2011 alone, the reduction amounted
to a NIS 2b. in savings throughout the country.
The study attributed the
savings to improved safety systems on the roads and in vehicles.
Sarig, the director of the capital markets, insurance and savings division, said
the report “proves that the division's operations are increasing competition in
the mandatory insurance market and bolstering careful driving.”
Moskovitz, who heads the National Road Safety Authority, said the numbers proved
that investments in infrastructure, education and safety advocacy yielded
concrete financial savings.
“Beyond saving human life, which is beyond
all monetary value, There is an enormous economic saving for the public and
Israeli economy as a result of increased road safety,” he said.