Tsvetanka Krumova, chief executive of Bulgaria-based JSC Armeec Insurance, has said that the Solvency II directive would significantly change insurers' attitude towards the risks they cover, reports Standart News.

Insurance business is directly linked to global problems such as climate change and terrorism, Ms. Krumova said.

The executive said insurance penetration in Bulgaria is relatively lower.

Ms. Krumova also said that online insurance is yet to significantly develop in the country and changes in insurance rules will be needed for this development. Read the full story BULGARIA: Solvency II to change insurers' perspective on risks