Today's business world is complex, unpredictable, uncertain and volatile. One of the key elements of this volatility is the rapid change around us. Considering the auto insurance industry, changes have also been made over the years. In car insurance, three types of coverage are available. There is only the third, which is obligatory because the least required by law; it covers your liability to third parties for damage or injury to property resulting from the use of your car. In addition to liability coverage, one can also choose to be covered and protected against damage or loss resulting from fire or theft, known as third party fire and theft. If you add accidental damage protection to your vehicle to those mentioned above, you are covered by comprehensive protection. The latest statistics show that the number of car owners and the volume of traffic are increasing again and this has been the government's agenda. The number of people owning cars has increased since 1980, which is good news for automakers and insurance companies. Increased carbon emissions also have an environmental cost. In the Malta Financial Services Authority (MFSA) Newsletter of November 2011, the Insurance Statistical Review section of 2010 shows that the figures published by the MFSA regarding Insurance companies in Malta show an increase of 45% of the total gross premiums written over the period 2009-2010. The accident and illness branch group recorded an increase in written premiums of 85% compared to 2009. Motor insurance premiums increased by 39%. In the 20th century, motor vehicles made their first appearance, but there was no need for insurance in a ...... middle of paper ...... therefore increases the number of claims. The market is growing and it has come to a point where customers can access price comparison sites such as confuse.com or moneysupermarket.com and by simply typing a query the consumer is offered a variety of prices from insurance from which he can acquire his insurance at competitive rates. mythhttp://www.streetdirectory.com/etoday/negative-effect-of-globalization-pcecwf.htmlhttp://www.carinsurancehub.com/car-insurance-and-credit-crunch.phphttp://www.talkonce. co.uk/the-history-of-motor-insurance/http://www.autoinsurancequote.com/articles/customization-adding-tweaks-to-your-vehicle-may-affect-your-auto-insurance.htmlhttp: //www.carinsurancecomparison.com/will-customizing-my-car-affect-my-car-insurance-rates/