Rome

More Italians not buying auto insurance due to high costs

'System troubled by economic crisis'

More Italians not buying auto insurance due to high costs

Rome, June 26 - More and more Italians are not buying auto insurance because the rates are too high, the head of Italy's insurance supervisory body said Wednesday. "Rates can and must come down," said Salvatore Rossi, head of IVASS. Italian insurance rates generally are so high that, with the economic crisis already hitting family budgets hard, many are choosing to forgo insurance, said Rossi. "It is a dangerous signal - the increasing number of vehicles traveling without insurance," he added. In the interest of supporting the insurance system, and the public wellbeing, a permanent solution must be found, he said.

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