Representatives from the transport sector, alongside clients and employees of DallBogg: Life and Health Insurance, assembled in Sofia on Thursday to protest and demand the resignation of the Financial Supervision Commission (FSC). The joint demonstration took place outside the National Assembly and the Council of Ministers, coinciding with the first sitting of the 52nd Parliament. The protesters’ primary demands include an immediate cessation of what they term “ongoing repression” against the insurance company and an end to the rising costs associated with mandatory motor third-party liability insurance.
They warned that if their demands are not addressed, subsequent protests could occur, potentially involving other industries affected by the increased compulsory insurance expenses. The protest highlights significant tensions between the industry participants and the regulatory body. Earlier in the month, the FSC had issued a ban preventing DallBogg from finalizing new or renewing existing insurance or reinsurance contracts across various classes.
The FSC justified this measure by stating it was necessary to protect policyholders’ interests and ensure the company’s solvency, citing breaches of the Insurance Code and market conduct rules.
Topics: #transport #sector #insurance
Representatives from the transport sector, along with clients and employees of DallBogg: Life and Health Insurance, gathered in Sofia on Thursday to protest and call for the resignation of the Financi