BULGARIA: about 21,000 drivers will pay four times more for civil liability

7 January 2020 —
According to the Chairman of the Financial Supervision Commission (FSC), Boyko ATANASOV, the proposed new Bonus-Malus system was well-balanced for drivers. About 21,000 drivers will pay more (about 4 times) for their civil liability insurance, as the data of the Insurers Association show.

Based on the project, insurance cost will rise in cases of accidents, in the most sever ones the price might reach BGN 1200/ ~EUR 613 (vs. BGN 300/ ~EUR 153 as of now). FSC Chairman emphasized that in case of violations, the malus comes immediately and is proportional to the violations.

Good behavior may reduce the price by maximum 25%, but it will take years for drivers to reach this stage. According to insurers, about 80% of drivers may get discounts and the maximum price reduction is possible for about 1.5 million of them.

Boyko ATANASOV noted that it is important to distinguish cars from heavy vehicles and buses in the Bonus-Malus system:

"I am committed to being proactive about heavy goods vehicles and buses, meeting with the relevant associations and believing that we will have a dialogue on the right solution. It is possible that the Bonus-Malus system will come into force in stages, we are ready for different options, it is important for the system be operational."

The final version of the proposed project is expected to be finalized by 15th of January in order to present the system for public opinion.

His full interview for BTV channel can be found here.