{"id":1007,"date":"2026-04-02T08:28:58","date_gmt":"2026-04-02T05:28:58","guid":{"rendered":"https:\/\/aastaraamat.fi.ee\/insurance\/"},"modified":"2026-04-22T14:54:26","modified_gmt":"2026-04-22T11:54:26","slug":"insurance","status":"publish","type":"page","link":"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/insurance\/","title":{"rendered":"Insurance"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"1007\" class=\"elementor elementor-1007 elementor-592\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e9c765e konteiner e-flex e-con-boxed e-con e-parent\" data-id=\"e9c765e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-b2514d9 e-con-full e-flex e-con e-child\" data-id=\"b2514d9\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-762beec e-con-full vahe-m e-flex e-con e-child\" data-id=\"762beec\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;sticky&quot;:&quot;top&quot;,&quot;sticky_on&quot;:[&quot;widescreen&quot;,&quot;desktop&quot;,&quot;laptop&quot;,&quot;tablet_extra&quot;,&quot;tablet&quot;,&quot;mobile_extra&quot;],&quot;sticky_parent&quot;:&quot;yes&quot;,&quot;sticky_offset&quot;:0,&quot;sticky_effects_offset&quot;:0,&quot;sticky_anchor_link_offset&quot;:0}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-165558d elementor-nav-menu--dropdown-none elementor-widget elementor-widget-nav-menu\" data-id=\"165558d\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;layout&quot;:&quot;vertical&quot;,&quot;submenu_icon&quot;:{&quot;value&quot;:&quot;&lt;svg aria-hidden=\\&quot;true\\&quot; class=\\&quot;e-font-icon-svg e-fas-caret-down\\&quot; viewBox=\\&quot;0 0 320 512\\&quot; xmlns=\\&quot;http:\\\/\\\/www.w3.org\\\/2000\\\/svg\\&quot;&gt;&lt;path d=\\&quot;M31.3 192h257.3c17.8 0 26.7 21.5 14.1 34.1L174.1 354.8c-7.8 7.8-20.5 7.8-28.3 0L17.2 226.1C4.6 213.5 13.5 192 31.3 192z\\&quot;&gt;&lt;\\\/path&gt;&lt;\\\/svg&gt;&quot;,&quot;library&quot;:&quot;fa-solid&quot;}}\" data-widget_type=\"nav-menu.default\">\n\t\t\t\t\t\t\t\t<nav aria-label=\"Menu\" class=\"elementor-nav-menu--main elementor-nav-menu__container elementor-nav-menu--layout-vertical e--pointer-underline e--animation-fade\">\n\t\t\t\t<ul id=\"menu-1-165558d\" class=\"elementor-nav-menu sm-vertical\"><li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-home menu-item-1068\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/\" class=\"elementor-item\">Home<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1069\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/foreword-by-the-chair-of-the-management-board\/\" class=\"elementor-item\">Foreword by the chair of the management board<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1070\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/the-right-to-operate-in-the-financial-sector\/\" class=\"elementor-item\">The right to operate in the financial sector<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1071\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/the-legal-environment\/\" class=\"elementor-item\">The legal environment<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1072\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/finantsinspektsioon-as-a-solver-of-crises\/\" class=\"elementor-item\">Finantsinspektsioon as a solver of crises<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1073\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/banking-and-credit\/\" class=\"elementor-item\">Banking and credit<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1074\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/insurance\/\" class=\"elementor-item\">Insurance<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1075\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/e-money-and-payment-services\/\" class=\"elementor-item\">E-money and payment services<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1076\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/investment-and-the-securities-market\/\" class=\"elementor-item\">Investment and the securities market<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1077\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/about-finantsinspektsioon\/\" class=\"elementor-item\">About Finantsinspektsioon<\/a><\/li>\n<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-1078\"><a href=\"https:\/\/aastaraamat.fi.ee\/wp-content\/uploads\/FI_AA_2025_eng_www.pdf\" class=\"elementor-item\">PDF version of the yearbook<\/a><\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t\t\t<nav class=\"elementor-nav-menu--dropdown elementor-nav-menu__container\" aria-hidden=\"true\">\n\t\t\t\t<ul id=\"menu-2-165558d\" class=\"elementor-nav-menu sm-vertical\"><li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-home menu-item-1068\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/\" class=\"elementor-item\" tabindex=\"-1\">Home<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1069\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/foreword-by-the-chair-of-the-management-board\/\" class=\"elementor-item\" tabindex=\"-1\">Foreword by the chair of the management board<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1070\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/the-right-to-operate-in-the-financial-sector\/\" class=\"elementor-item\" tabindex=\"-1\">The right to operate in the financial sector<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1071\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/the-legal-environment\/\" class=\"elementor-item\" tabindex=\"-1\">The legal environment<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1072\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/finantsinspektsioon-as-a-solver-of-crises\/\" class=\"elementor-item\" tabindex=\"-1\">Finantsinspektsioon as a solver of crises<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1073\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/banking-and-credit\/\" class=\"elementor-item\" tabindex=\"-1\">Banking and credit<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1074\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/insurance\/\" class=\"elementor-item\" tabindex=\"-1\">Insurance<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1075\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/e-money-and-payment-services\/\" class=\"elementor-item\" tabindex=\"-1\">E-money and payment services<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1076\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/investment-and-the-securities-market\/\" class=\"elementor-item\" tabindex=\"-1\">Investment and the securities market<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1077\"><a href=\"https:\/\/aastaraamat.fi.ee\/en\/home-page-2025\/about-finantsinspektsioon\/\" class=\"elementor-item\" tabindex=\"-1\">About Finantsinspektsioon<\/a><\/li>\n<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-1078\"><a href=\"https:\/\/aastaraamat.fi.ee\/wp-content\/uploads\/FI_AA_2025_eng_www.pdf\" class=\"elementor-item\" tabindex=\"-1\">PDF version of the yearbook<\/a><\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f807f56 e-con-full e-flex e-con e-child\" data-id=\"f807f56\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7a53505 elementor-widget elementor-widget-text-editor\" data-id=\"7a53505\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Finantsinspektsioon carries out supervision over insurers and insurance intermediaries that operate under a licence that it has issued. There were two life insurers and seven non-life insurers operating in the Estonian market with a licence from Finantsinspektsioon at the end of 2025. There were also seven foreign non-life insurers and three branches of foreign life insurers operating in Estonia.<\/p>\n<p>There were 38 insurance brokers listed on the Finantsinspektsioon list of insurance intermediaries at the end of the year. There were also branches of five foreign insurance brokers operating in Estonia.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-558e4f6 elementor-widget elementor-widget-custom_table_widget\" data-id=\"558e4f6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"custom_table_widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t            <div class=\"custom-table-widget columns-4\">\n                <table>\n                    <thead>\n                        <tr>\n                                                            <th>Insurance distributors operating with a licence from Finantsinspektsioon<\/th>\n                                                            <th> <\/th>\n                                                            <th>2025<\/th>\n                                                            <th>2024<\/th>\n                                                    <\/tr>\n                    <\/thead>\n                    <tbody>\n                                                    <tr>\n                                                                    <td>Non-life insurers<\/td>\n                                                                    <td><\/td>\n                                                                    <td>7<\/td>\n                                                                    <td>7<\/td>\n                                                            <\/tr>\n                                                    <tr>\n                                                                    <td><\/td>\n                                                                    <td>Value of assets<\/td>\n                                                                    <td>1,1 billion euros<\/td>\n                                                                    <td>1,1 billion euros<\/td>\n                                                            <\/tr>\n                                                    <tr>\n                                                                    <td><\/td>\n                                                                    <td>Insurance liabilities<\/td>\n                                                                    <td>487 million euros<\/td>\n                                                                    <td>499 million euros<\/td>\n                                                            <\/tr>\n                                                    <tr>\n                                                                    <td><\/td>\n                                                                    <td>Insurance premiums<\/td>\n                                                                    <td>861 million euros<\/td>\n                                                                    <td>836 million euros<\/td>\n                                                            <\/tr>\n                                                    <tr>\n                                                                    <td>Life insurers<\/td>\n                                                                    <td><\/td>\n                                                                    <td>2<\/td>\n                                                                    <td>2<\/td>\n                                                            <\/tr>\n                                                    <tr>\n                                                                    <td><\/td>\n                                                                    <td>Value of assets<\/td>\n                                                                    <td>1,7 billion euros<\/td>\n                                                                    <td>1,6 billion euros<\/td>\n                                                            <\/tr>\n                                                    <tr>\n                                                                    <td><\/td>\n                                                                    <td>Insurance liabilities<\/td>\n                                                                    <td>1,2 billion euros<\/td>\n                                                                    <td>1,1 billion euros<\/td>\n                                                            <\/tr>\n                                                    <tr>\n                                                                    <td><\/td>\n                                                                    <td>Insurance premiums<\/td>\n                                                                    <td>369 million euros<\/td>\n                                                                    <td>354 million euros<\/td>\n                                                            <\/tr>\n                                            <\/tbody>\n                <\/table>\n            <\/div>\n            \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1b139e1 elementor-widget elementor-widget-heading\" data-id=\"1b139e1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Finantsinspektsioon assessed compliance with the requirements for designing insurance products<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-64e1086 elementor-widget elementor-widget-text-editor\" data-id=\"64e1086\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Finantsinspektsioon focused its supervision on whether the design of insurance products complied with the requirements. It looked at whether distributors were given sufficient and relevant information when new products were developed and existing products significantly altered, and whether the development process for products met all the requirements for it. Finantsinspektsioon drew attention to individual cases where the distributors were given information that was not relevant.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f48929e elementor-widget elementor-widget-heading\" data-id=\"f48929e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Finantsinspektsioon inspected how losses were handled and insurance compensation explained<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-79c8aec elementor-widget elementor-widget-text-editor\" data-id=\"79c8aec\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Finantsinspektsioon looked at how non-life insurers handle and compensate losses and how they explain insurance compensation to clients. The existence of internal rules, the application of them, and their alignment with legal standards was checked. Finantsinspektsioon identified shortcomings in how losses were handled and directed the insurers to extend their internal rules and ensure that they followed them. Finantsinspektsioon monitored whether insurers followed the action plans they had submitted.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ec93cf0 elementor-widget elementor-widget-heading\" data-id=\"ec93cf0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Finantsinspektsioon worked with international partners in insurance<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8da6dff elementor-widget elementor-widget-text-editor\" data-id=\"8da6dff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Finantsinspektsioon contributed to pan-European analysis of the experience and expectations of consumers for the availability and extent of insurance coverage against natural disasters in home insurance policies. It also participated together with insurers in the collection of data by the European Insurance and Occupational Pensions Authority (EIOPA), which was used for a report on the costs and past returns of European life insurance products. The report emphasised the need for continuing efforts to ensure the best ratio of price and quality for consumers. It gives a review of the main trends in the insurance market in the European Union and is an input for the supervision work of Finantsinspektsioon and for the everyday work of insurers.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-14cf64c elementor-widget elementor-widget-heading\" data-id=\"14cf64c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Finantsinspektsioon assessed the risks of insurers more methodically than before<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-446a8ae elementor-widget elementor-widget-text-editor\" data-id=\"446a8ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Finantsinspektsioon used to produce an annual risk assessment on all of the insurers, but a new approach was introduced in 2025 as smaller insurers with lower risk levels will now be assessed every two years. This is in line with the principle that Finantsinspektsioon follows of risk-based supervision. The assessments of insurance companies cover their business model and strategy, their financial and risk position, governance, and other issues. Feedback was given to every insurer that a risk assessment was made for, and the results of the risk assessment are an important input for planning supervision work.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-90ecf0b elementor-widget elementor-widget-heading\" data-id=\"90ecf0b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The focus fell on capital risks in life insurance and on risks from climate change in non-life insurance<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3c6ea42 elementor-widget elementor-widget-text-editor\" data-id=\"3c6ea42\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Finantsinspektsioon had separate inspection projects for life and non-life insurers. The inspection of life insurers looked at how reliably risks were considered and mitigated, while that for non-life insurers looked at how they account for the risks from climate change. This inspection analysed how ready the insurers are to meet new requirements, and where necessary it gave recommendations for improvements they could make.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-66d9877 elementor-widget elementor-widget-heading\" data-id=\"66d9877\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">On-site inspection focused on assessing the management systems of insurers<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d8e68b9 elementor-widget elementor-widget-text-editor\" data-id=\"d8e68b9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Finantsinspektsioon completed an on-site inspection of insurers established in Estonia that was started in 2024. It looked at the management systems of the insurers, including their risk management and the organisation of key functions, the organisation of the transfer of activities, and the suitability within the operation of the assessment system of managers and the people responsible for key functions. Attention was also focused on the correctness of reporting and disclosure, how damages under optional vehicle insurance and motor third-party liability insurance are handled and compensated, and how insurance compensation is explained when travel and health insurance contracts are signed. Finantsinspektsioon found shortcomings and points that needed improvement in all of the areas inspected. The insurers drew up action plans for how to remedy the shortcomings identified by the inspections, and Finantsinspektsioon continues to monitor how those plans are fulfilled.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Finantsinspektsioon carries out supervision over insurers and insurance intermediaries that operate under a licence that it has issued. There were two life insurers and seven non-life insurers operating in the Estonian market with a licence from Finantsinspektsioon at the end of 2025. There were also seven foreign non-life insurers and three branches of foreign life [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1006,"parent":1019,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"class_list":["post-1007","page","type-page","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/aastaraamat.fi.ee\/en\/wp-json\/wp\/v2\/pages\/1007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aastaraamat.fi.ee\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/aastaraamat.fi.ee\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/aastaraamat.fi.ee\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/aastaraamat.fi.ee\/en\/wp-json\/wp\/v2\/comments?post=1007"}],"version-history":[{"count":2,"href":"https:\/\/aastaraamat.fi.ee\/en\/wp-json\/wp\/v2\/pages\/1007\/revisions"}],"predecessor-version":[{"id":1043,"href":"https:\/\/aastaraamat.fi.ee\/en\/wp-json\/wp\/v2\/pages\/1007\/revisions\/1043"}],"up":[{"embeddable":true,"href":"https:\/\/aastaraamat.fi.ee\/en\/wp-json\/wp\/v2\/pages\/1019"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aastaraamat.fi.ee\/en\/wp-json\/wp\/v2\/media\/1006"}],"wp:attachment":[{"href":"https:\/\/aastaraamat.fi.ee\/en\/wp-json\/wp\/v2\/media?parent=1007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}