Breaking the insurance monopoly in the local authorities in Israel?
- For several months, the local authorities in Israel have been dealing with a phenomenon that has worsened recently, the various insurance companies in Israel refuse to insure the authorities with the exception of one insurance company that dominates the market, but the only insurance company that insures the authorities, they say today in the Association of Treasurers in the local authorities, is raising insurance prices by tens of percent and asking for 300 One thousand shekels deductible in case of activation of the insurance.
CPA Aryeh Bardugo, chairman of the union of treasurers in local authorities, explains "In the past we had the ability to negotiate with several insurance companies, so the price was reasonable, but today only one company is willing to insure the local authority, and we pay a very high price."
CPA Aryeh Bardugo, chairman of the Treasurers' Union in Israel (photo: official website, photo: Aren Delev)
The local authority says Bardugo
must insure itself against claims "Whether it is injury to life or property, everything related to the municipality is insured."
Insurance abroad with the approval of the Ministry of Finance and together with the Center for Local Government. This involves billions of shekels. The local authorities do not have budget fat, and every shekel that goes out is important and at the expense of the citizen."
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Economic business and real estate
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Insurance
