STATISTICS:

Bulgarian high risk drivers will pay more for MTPL insurance starting 2018

The Financial Supervision Commission in Bulgaria has decided that beginning with 2018 drivers with a "spottiness" driving history will pay a higher fee for the MTPL insurance, reports Novinite.

The deputy-chairman of the Financial Supervision Commission has spoken before Bulgarian media about the changes to be implemented in the process of acquiring MTPL policies. As effective from the beginning of 2018, insurance companies will have access to drivers' personal records kept by the Ministry of Internal Affairs. This will allow insurance companies to review the driver's history and adjust the price of the mandatory vehicle insurance according to their record.

As an example, the deputy-chairman gave the situation in which a driver with a clean slate goes to get his vehicle insurance. Upon revealing his history, the company sets the price of the insurance at BGN 100 (~ EUR 50). If a driver with a bad history record, who has caused accidents over the past few years, goes through the same process, the price he pays may go up by 200% or, depending on the severity of his violations, reach up to BGN 600 (~ EUR 300).

Speeding, sudden change of direction and not keeping the recommended distance from other vehicles will be some of the main points by which the rise in the insurance's price will go up. It has been stated that among them, speeding is the most dangerous, as it was the main reason for 30% of traffic accidents. Among other nonenviable data, Bulgaria is first in Europe on traffic accident related death per capita.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ON THE MOVE

TOP EVENT

photodune-3834701-laughing-girl-xs

LIVE: 1st National Reinsurers Summit in Moscow: focus on global cooperation

Today has started in Moscow the 1st National Reinsurers Summit "National Reinsurers: Focus on global cooperation". Organized by the Russian National Reinsurance Company (RNRC) with the support of the Central Bank of the Russian Federation, the conference has the xprimm.com insurance portal as Media Partner.

20.09.2018

photodune-3834701-laughing-girl-xs

LIVE from Monte Carlo: The 62nd edition of the "Rendez-Vous de Septembre"

The 62nd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.

13.09.2018

Willis Re - Market still soft, but functional

Despite the high losses from 2017 the reinsurance market is still soft, James KENT, Global Chief Executive Officer (CEO) of Willis Re stated at a press briefing in Monte Carlo.

10.09.2018

See all