On focus

Forth payment to injured parties under insurance contracts concluded through the Bulgarian branch of Olympic

22 December 2023

In December 2023 the Guarantee Fund proceeded with forth consecutive payment of compensation under insurance contracts concluded through the Bulgarian branch of Olympic Insurance Company (in liquidation). Within this stage, 83 compensations for property and non-property damages were paid with total amount of BGN 5 056 139. The payments were made according to a list provided to the Guarantee Fund by the liquidators of Olympic Insurance Company.

The four rounds of payments satisfy total of 474 claims against the Bulgarian branch of Olympic Insurance Company. The total value of the payments amounts to BGN 17,082,214. Cyprus Guarantee Fund has started to partially reimburse the payments made by the Bulgarian Guarantee Fund.

In connection with the payments, the Guarantee Fund would like to remind the interested parties that they 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 e-mail: officebg@olympicins.eu

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.