Olympic
Third payment to injured parties under insurance contracts concluded through the Bulgarian branch of Olympic starts in August 2023
28 July 2023
The Guarantee Fund proceeds with a third payment of benefits under insurance contracts concluded through the Bulgarian branch of Olympic Insurance Company (in liquidation). Within this stage will be paid 60 compensations for material and non-material damages, settled through out-of-court agreements between the injured persons and the liquidators of Olympic Insurance Company. The total value of the benefits that will be paid amounts to BGN 3,469,601. The payments will be made according to a list provided to the Guarantee Fund by the liquidators of Olympic Insurance Company.
The second stage of payments will take place in August 2023 , after the completion of the organisational and administrative actions undertaken. The sums due will be transferred by the Guarantee Fund by bank transfer to the injured parties, to the bank accounts indicated by them in the liquidation proceedings of Olympic Insurance Company. In connection with the payments, the persons concerned should promptly notify the liquidators of Olympic Insurance Company of any changes in the circumstances declared to them relating to a change of bank account and/or proxies at tel. 02/902-09-00; 0877885038 or email officebg@olympicins.eu
The three rounds of payments satisfy a total of 392 claims against the Bulgarian branch of Olympic Insurance Company. The total value of the payments amounts to BGN 12,030,340. Cyprus Guarantee Fund has started to partially reimburse the payments made by the Bulgarian Guarantee Fund at the first round.
The process of paying compensation to the injured persons will continue in the future, with the Guarantee Fund being actively engaged in protecting the interests of the injured persons. Interested persons should take into account that the dynamics of payments over time, the number of claims settled, the amount of compensation and other conditions depend on the activity of the liquidators of Olympic Insurance Company and their active communication with the persons claiming compensation due, as well as on the litigations of the Cyprus Guarantee Fund and their legal resolution.