Representatives from the transport sector, alongside clients and employees of DallBogg: Life and Health Insurance, gathered in Sofia on Thursday to protest and demand the resignation of the Financial Supervision Commission (FSC). The joint demonstration, involving various industry organizations and the insurer’s staff and clients, took place in front of the National Assembly and the Council of Ministers, marking the first sitting of the 52nd Parliament. The protesters are demanding the FSC’s resignation and intend to proceed to the commission’s headquarters afterward.
Their core demands include an immediate cessation of what they describe as ongoing “repression” against the company and a halt to the “criminal increase in prices of mandatory motor third-party liability insurance.” They cautioned that continued action would prompt further protests, potentially involving other sectors impacted by rising compulsory insurance costs. The gathering follows an action taken by the FSC in early April, which banned DallBogg: Life and Health Insurance from entering into new insurance or reinsurance contracts—either across all classes or specific ones—and also prohibited the extension or expansion of existing coverage. The FSC issued this measure, stating its goal was to safeguard policyholders’ interests and ensure the company’s solvency, citing breaches of market conduct rules and violations of the Insurance Code as the basis for the ban.
Topics: #transport #sector #insurance
It’s concerning that such a large group is demanding the resignation of a major regulatory body.