The Capital Markets Authority’s move to lower property auto insurance rates has been completed; Senior industry official: It is a PR show

On Sunday night – a few hours after it became clear that IDI was the only company that had not approved new insurance rates with the Capital Markets Authority, the company received approval * It is unclear which side folded, however, sources close to IDI told Polisa that "the company emerged satisfied with the summary" * Regarding the overall move of pushing companies to lower insurance rates – a senior official told Polisa that "this PR show is, in my opinion, a very disrespectful milestone for a regulatory authority – it is outrageous, irritating, and disappoints me" * Meir Rotberg, Chairman of the General Insurance Committee at the Bureau of Insurance Agents: We welcome any action taken for the benefit of the insured