Protesters representing the transport sector, alongside clients and staff of DallBogg: Life and Health Insurance, gathered in Sofia on Thursday to demand the resignation of the Financial Supervision Commission (FSC). The joint demonstration, involving industry organizations and the insurer’s personnel, took place outside the National Assembly and the Council of Ministers, marking the first session of the 52nd Parliament. The primary demands voiced by the demonstrators include the immediate cessation of actions they describe as “repression” against the company and a reduction in the escalating costs of mandatory motor third-party liability insurance.
Participants warned that failure to address these concerns would lead to further protests, potentially involving other sectors impacted by rising compulsory insurance premiums. The protest highlights a dispute stemming from an early April decision by the FSC. At that time, the commission imposed a ban preventing DallBogg from entering into new or renewing any insurance or reinsurance contracts, or expanding existing coverage.
The FSC cited violations of the Insurance Code and breaches of market conduct rules as the basis for the measure, stating its goal was to protect policyholders and ensure the company’s solvency. The assembly of the transport sector groups underscores the immediate financial impact of these regulatory actions on commercial operations. The demonstrators plan to proceed from the government buildings to the FSC headquarters following the initial protest, maintaining that the regulatory oversight has negatively affected the stability and operational capacity of the insurance market within the sector.
Topics: #transport #sector #insurance
