The majority of large insurance companies have opted not to increase motoring insurance charges in the near future although they do not rule out price increases later in the year.
PZU, the largest insurer and effectively the company that dictates market conditions for the other players, last increased its prices for third party insurance in July 2001 and fully comprehensive last November.
Other companies seem to be following their lead.
Auto insurance accounts for more than two thirds of all property insurance in this country and therefore profits for the industry are heavily dependent on them.
For the moment the insurance companies are more worried about the competition and their position on an increasingly difficult market, however costs are bound to increase later in the year.