According to Konstantin VELEV, chairman of ABZ (Association of Bulgarian Insurers), "a gradual increase in MTPL prices has been observed since the mid-2021 - by about 10% compared to the beginning of last year", ABZ announced on its website.

The increase in prices for motor third party liability insurance by about 10% on average is reported if compared to the prices in January last year. After a decline in 2020, a gradual increase started from mid-2021. Konstantin VELEV also explained that the increase is different considering criteria such as vehicle capacity, driver's age, and region.

The chairman of ABZ added that "this insurance must be available to consumers. We are fully aware that it is mandatory, but we must also take into account that it plays a social role by guaranteeing the right to compensation to innocent victims of road accidents", he said.

An accurate forecast of the price trend cannot be made, but it is likely that in 2022 there will be a smooth upward movement due to several factors, the main one being the damage. It's worth noting that the increase in prices of spare parts, car repair services and others, is currently not reflected in MTPL prices.

Konstantin VELEV also expressed hope that this year the regulation on "Bonus Malus" will be approved. The process was postponed due to the ongoing pandemic.