The Motor Insurers' Bureau of Latvia (LTAB) has filed for insolvency of the to-be liquidated Balva non-like insurer, informs LETA.

The decision was made because Balva is not able to cover the growing costs, said the bureau's board chairman Janis Abasins in a statement to the press. The LTAB has tried to recover the motor third partly liability (MTPL) insurance claims paid from the Guarantee Fund because the insurer had not been able to cover these costs. Read the full story LATVIAN Motor Insurers' Bureau files for insolvency of Balva insurer