The Eurovita crisis shakes the insurance world. The “flight” of savers is becoming more and more concrete
The crisis of Eurovita threatens the credibility of the entire insurance industry. The Milanese company, after the decision of commissioner of the insurance authority (Ivass) which arrived last February, is currently in extraordinary administration due to the drop in the index of solvency (a sort of report card relating to financial solidity) below the safety threshold of 100 points.
But for customers, the real problem is another. In view of the disconcerting economic situation, the company has implemented a practice never seen before in Italy in the life insurance sector: the total freeze of redemptions, until 30 June. According to sources, there are over 350,000 customers who literally cannot get their money back.
The block decided by Eurovita has only one goal: to avoid bankruptcy of the company. In fact, if all concerned withdraw their money, the company would not have the solidity to manage the “leakage” of savings and bankruptcy would almost certainly be inevitable.
There are many savers affected by the crisis Eurovita who raised their voices, enraged at not having received any kind of information on the worrying situation of the Milanese company. And most have only one concern: the future of their children. Because you know, often when you take out life insurance you do it to preserve the future of your loved ones.
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