Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

Inspection of Financial Supervision Commission launched over Olympic bankruptcy

| updated on 8/20/18 12:17 PM

A meeting at the Council of Ministers today is looking into what kind of assistance can be rendered to the clients of Olympic insurance company which has gone bankrupt.

Because of this, 200,000 clients were left without civil liability insurance policies, estimated at 9,350,000 Leva /4,781,000 euro/. To begin with, the authorities stated all people concerned must take care of the problem individually, but the people affected staged a protest in front of parliament building, demanding the assistance of the Financial Supervision Commission, the Bulgarian Guarantee Fund and the prime minister.

In connection with the bankruptcy of Olympic insurance company, the prosecutor general has ordered an inspection to be carried out of the Financial Supervision Commission. The inspection will focus most of all on the way state insurance supervision was carried out, whether the legal requirements for the start of operation by the Olympic branch in Bulgaria have been observed, and how ongoing supervision of the company’s activities was exercised. The inspection is entrusted to the Supreme Prosecutor's Office of Cassation and the State Agency for National Security. 



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

IAEA inspects Kozloduy nuclear power plant

A planned mission of the International Atomic Energy Agency (IAEA) has been conducted at the Kozloduy NPP to check the operational safety of the plant according to the agency's standards.   During the inspection over the past 3..

published on 12/6/24 10:03 AM

California tsunami warning lifted

The Situation Center of the Ministry of Foreign Affairs has published important information for all Bulgarians in California, USA . "An earthquake with a magnitude of 7.0 on the Richter scale was registered off the northern coast of..

published on 12/6/24 9:22 AM

Bansko ski runs open on St. Nicholas Day

The winter season in Bansko starts earlier this year. The ski area opens on December 6, 2024. All slopes will be open except for Chalin Valog and the ski road to Bansko. The runs are in excellent condition, it was reported. Until..

published on 12/6/24 8:50 AM