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

President Radev expects the court to rule on his appeal regarding the changes to the Constitution

President Rumen Radev expects the Constitutional Court to rule more quickly on his appeal regarding the changes to the Constitution. The head of state made this statement in front of students at the University of National and World Economy, where he..

published on 12/4/24 7:20 PM

Cloudy skies and snowfall in the mountains

On Thursday temperatures will range from 1 to 5°C, with a low of 2°C in Sofia. In the morning, visibility may be reduced. The day will be cloudy. There will be light rain first in the east and later in the day in the west. Highs will be between 5°C and..

published on 12/4/24 7:05 PM
Irina Nedeva

Bulgarian National Radio journalist Irina Nedeva awarded the French National Order of Merit

Bulgarian journalist and Vice-President of the Association of European Journalists (AEJ) Irina Nedeva has been awarded the National Order of Merit, Chevalier, by decree of the President of the French Republic Emmanuel Macron . This was announced by..

published on 12/4/24 6:46 PM