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

Foreign Minister Kondov and NATO Secretary General Rutte discuss the situation in the Black Sea region

Caretaker Minister of Foreign Affairs Ivan Kondov held a bilateral meeting with NATO Secretary General Mark Rutte during the official meeting of the foreign ministers of NATO allies. The two discussed priorities in the Alliance's collective..

published on 12/3/24 4:00 PM
Natalia Kiselova

BSP-United Left seek support for their candidate for National Assembly Speaker

The coalition BSP-United Left, which placed fifth in the parliamentary elections held on October 27, is starting a series of negotiations to gather support for its candidate for the position of Speaker of the 51st National Assembly, Natalia Kiselova,..

published on 12/3/24 3:06 PM

Mayors from Kyustendil district call for the accelerated construction of Corridor No 8

Chairpersons of municipal councils from Kyustendil district gathered at the railway station in Gyueshevo to declare their desire for the accelerated construction of the road and railway route of Corridor No. 8. The Chairman of the Kyustendil..

published on 12/3/24 1:47 PM