News

Insurance compensation payments of Olympic Insurance Company

14 August 2018

In relation to information published in the media, related to the payment of insurance compensation of Olympic Insurance Company through its branch in Bulgaria, we would like to inform all interested parties as follows:

As per the Insurance Code, the Bulgarian Guarantee fund does not cover (does not guarantee) the activity of insurers from other countries in the EU that do business in Bulgaria under the right of establishment. Olympic Insurance Company (through its branch in Bulgaria) does business specifically under the right of establishment, and respectively, the Guarantee fund does not execute payments in the stead of the insurer that is headquartered in Cyprus.

In this regard, any questions relating to the payment of compensations from interested parties should be forwarded to the designated liquidator of the company. Information on this matter should be available at the office of the Bulgarian branch of Olympic.