PiKHL – Price index for vehicle third-party liability payments
Vienna, 20/04/2001
In 2000, the price index for motor third-party liability payments (PiKHL) again rose more sharply than the Consumer Price Index
In 2000, the price index for motor third-party liability payments (PiKHL) again rose more sharply than the Consumer Price Index
2000 showed a 2.5% increase in the prices which motor third-party liability insurers had to pay for car accidents, although the favorable cost development for the processing of payments mitigated the price upswing as a whole. The general inflation rate was nevertheless again lower during the same period, standing at 2.3%.
As was the case in 1999, in 2000 the PiKHL index sub-items "compensation for pain and suffering" and vehicle repair costs showed dramatic increases of 2.9% and 2.7%, respectively. The "recourse claims of the social security institutions" rose by 2.3% and "other damage to property" by 0.6%. All in all, the prices for damage to persons and for material damage rose by 2.6%, while claims-handling costs went up by 1.9%.
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