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

BFSA sends sheep and goat plague samples to Montpellier laboratory for confirmation

Food Safety Agency (BFSA) has now sent samples from herds found to have peste des petits ruminants (PPR) to the reference laboratory in Montpellier, France, for confirmation as a measure to increase public confidence in the work of the institutions...

published on 12/4/24 5:15 PM

President Radev: Hostilities in Ukraine can be brought to an end with clear political will

Bulgarian President Rumen Radev gave a lecture on the prospects and challenges for young people at the University of National and World Economy in Sofia.  At the end of his speech, he answered questions from students.  Asked about the wars in..

published on 12/4/24 2:25 PM

EU calls for the immediate culling of infected animals in Velingrad

The European Commission is insisting on the urgent implementation of strict measures to eradicate the outbreak of sheep plague in Velingrad.  In a statement, the Directorate-General for Crisis Preparedness in Food, Animals and Plants of the..

published on 12/4/24 1:24 PM