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

Festival of O-salted fish in Sozopol

The fourth O-Salted Fish Festival is being held today at Kulata Square in the seaside resort of Sozopol. The event marks the opening of the town's Christmas market. Participants in the Best Salted Fish competition will be judged in five categories -..

published on 12/7/24 8:45 AM

Pamporovo ski resort opens for the winter season

The Pamporovo ski resort in the Rhodope Mountains opens its 2024/2025 winter season today. Tourism Minister Evtim Miloshev is expected to attend the official ceremony at Studenets Square. The opening comes just one day before the Bulgarian University..

published on 12/7/24 7:35 AM

Cloudy and rainy weekend, snow in the mountains

On Saturday, minimum temperatures will range from 2 to 7°C, in Sofia - 2°C.  Snow will fall in north-western Bulgaria and in the mountains. There will be blizzard conditions on the mountain passes. Rain will fall in central and eastern Bulgaria, with..

published on 12/6/24 7:05 PM