Another 1 insurer in bankruptcy


Another 1 insurer in bankruptcy

 
Former Deputy Chairman of the Financial Supervision Commission Ralitsa Again has confirmed a serious problem with a second bTV insurer in Bulgaria. Perhaps it is exaggerated to talk about the bankruptcy of a second insurance company, but there are problems. I can not say more. There are SANS inspections. There are risks in the sector, Again said. If you are currently injured in an insurance event that you have to pay for "Olympic", you will get your money from the Bulgarian Guarantee Fund and he will later ask for them from the Cypriot, assured the viewer Ralitsa Again, quoted by
 
If you are currently suffering from an insurance event that you have to pay for "Olympic", you will get your money from the Bulgarian Guarantee Fund and he will later ask for them from the Cypriot.
 
The bigger problem is that 197,000 were canceled on August 17, of which the loss for people would be 9,350,000. This money in Cyprus will be sought from the sale of the assets of the bankrupt insurer.
 
If you are a leader who has civil liability in "Olympic" and are currently causing damage, the Guarantee Fund will remit it to the victim, but then you will have to pay it out of your pocket.
 
This was made clear by the first interview of the resigned deputy chairman of the Financial Supervision Commission (FSC) Ralitsa Again before bTV.
 
"Yes, the citizens will get their money outright," she said to the question what was going on with the victims of the damage provided by the bankrupt company - "There is a signed convention between the EU guarantee funds and in 2012 it is signed by our fund and 2010 by Cyprus.
 
Finally, the claim will be paid by the Cyprus Fund, but in the meantime the Bulgarian Fund will serve the clients - here they will assess the benefits of whom and how much they have to pay, and then they will turn to the Cypriot fund and pay them back.
 
But she pointed to where the bigger financial "hole" was - the people who paid, but now have practically suspended insurance in "Olympic".
 
"The big loss - these were 197,000 policies that were terminated on August 17. I calculated that the loss would be 9,350,000 lv. These amounts should be reimbursed by the insurer, but this depends on the procedure that must start before the Cypriot court. "
 
Agene has announced that the bankruptcy case is expected to start in September, and will subsequently have to sell all of the company's assets.
 
She also pointed out what was happening with a guide he had
 
he is at the moment at Olympic: "This guy, unfortunately, the risk to him is not covered ... The guilty leader is the one who will be the ultimate payer." The regime is such that the victims are compensated first.
 
The abandoned chief of insurance supervisor said that the Guarantee Fund was in good condition - he had currently available funds of BGN 135,000,000, and separately "large reserves" were allocated.
 
Again does not accept that FSC has "snooped" the Cyprus notification since 10 May - that the Olympic license there has been withdrawn. And the commission does not withdraw the licenses of a branch.
 
"The powers of the deputy chairman do not in any way foresee that he himself should go to the other bodies - including the Minister of Finance, including the prime minister, because there is some hierarchy," said the former Tsarist on the accusations of Vladislav Goranov and the premiere Borisov, that he did not inform them.
 
She made a report to the chairman, the decisions taken by the whole committee as a collegiate body.
 
"When the first letter from Cyprus arrived on May 10, I reported to the Commission, and the same reciprocal measures that the Cypriot regulator wanted from us were taken, and they are two:
 
- prohibit the conclusion of new contracts;
 
- to impose a ban on disposal of assets from all branches in Bulgaria.
 
These data have been sent to the Commercial Register, announced on the website of the Commission, to the Guarantee Fund, including in the State Gazette.
 
It agreed only that the commission had not communicated well what happened to the citizens, but communication policy was also not the duty of the deputy chairman.
 
She gave an example of the good activity of the insurance supervision, which it took in the last year. the license of two Bulgarian insurers. For example, "Nadezhda", which was very small, but on the Italian market "started to do very aggressive actions" - just like the "Olympic" of the Bulgarian. They remained without a license when they sold insurance for 1 billion euros in a few months, and had no funds to do so.
"There are risks in the sector, especially in the area of ​​Third Party Liability insurance," she said. "These risks are related to this - last year's premiums are not enough to compensate for the payment of compensation and other costs that insurers do.
 
According to her, you do not have to buy the most expensive one, but when you see the price of insurance that is much lower, you have to be very careful.
"Bulgarian legislation has one of the biggest defenses in the EU," Again said.


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