REFLECTION ON THE IMPORTANCE OF TRANSPORT INSURANCE IN IMPROVING URBAN TRANSPORT AND ECONOMIC DEVELOPMENT

Abstract

The purpose of this article is to provide a number of elements that can help build a reflection on the importance of the transport and insurance sectors in order to work in the same direction, namely to achieve sustainable economic growth with minimal negative effects on the environment and people. Traffic accidents cause significant human and material damage and in order to minimize the consequences of these accidents on the economy, the insurance sector presents itself as the one that can guarantee the financial stability and sustainability of companies. The ARDL model applied to our database reveals the existence of a long-term relationship between economic growth and automobile insurance. A 1% increase in car insurance would increase GDP per capitaby 0.15%