Representatives from the transport sector, alongside clients and employees of DallBogg: Life and Health Insurance, assembled in Sofia on Thursday to demand the resignation of the Financial Supervision Commission (FSC). The joint protest, involving various industry organizations, took place outside the buildings of the National Assembly and the Council of Ministers. The demonstrators’ primary demands include the immediate cessation of what they term “ongoing repression against the company” and a reduction in the escalating costs of mandatory motor third-party liability insurance.
They warned that further protests would occur if their demands were not met, suggesting that other sectors impacted by rising compulsory insurance costs might also participate. The protest followed the FSC’s action in early April, when it imposed a ban on DallBogg: Life and Health Insurance. This measure prohibited the company from entering into new insurance or reinsurance contracts across any class, or from renewing or expanding existing coverage.
The FSC cited violations of market conduct rules and breaches of the Insurance Code as the rationale for the protective measure, stating its aim was to safeguard policyholders’ interests and ensure the company’s solvency.
Topics: #transport #sector #insurance
