STATEMENT OF BASAT
(Bulgarian Association of Road Transport Organizations)
The Bulgarian Association of Road Transport Organizations (BASAT) expresses its deep concern regarding the actions of the Financial Supervision Commission (FSC), which directly affect the competitive environment in the insurance sector and lead to a significant increase in costs for the transport industry and all consumers.нспортния бранш и всички потребители.
In recent years, the transport sector has faced unprecedented pressure—increasing fuel prices, road tolls and administrative burdens. In this environment, insurance costs have become a critical factor for the survival of businesses.
For this very reason, the emergence of genuine competition in the market, resulting in more affordable prices, provided much-needed relief for the entire sector.
Instead of protecting competition – restricting it
The actions of the FSC, which resulted in restricting the activities of an insurer that offered better conditions on the market, raise serious questions.
Instead of encouraging a competitive environment, the impression has been created that the opposite is happening—that the market is being “closed” and returned to a model in which prices remain within a range convenient for a limited number of participants.
This calls into question the role of the regulator as an independent authority.
Concerns about market distortion
The developments observed in the sector naturally raise questions as to whether:
conditions are being created to maintain high price levels through coordinated behaviour;
pressure is being exerted on market participants who disrupt this model;
interests other than the public interest are being served.
BASAT cannot overlook the fact that the effect of these actions is one and the same – higher costs for businesses and citizens.
Risk of a dangerous scenario
It is particularly alarming that these developments resemble models in which:
first, a market participant is weakened;
then, its access to the market is restricted;
subsequently, conditions are created for the redistribution of market positions and assets.
Bulgarian society has already paid a high price for similar scenarios in the past.
For this reason, transparency and clarity are now more necessary than ever.
BASAT has already notified the institutions
In connection with the above, BASAT has officially submitted notifications to all competent institutions, including:
the Commission for Protection of Competition (CPC);
the Consumer Protection Commission (CPCP);
the Financial Supervision Commission (FSC);
the Office of the President of the Republic of Bulgaria;
the Ombudsman of the Republic of Bulgaria;
the Council of Ministers.
We expect the institutions to act immediately and conduct a full, objective and transparent investigation into what is taking place in the sector.
Who pays the price?
The price is paid by:
Bulgarian transport operators;
small and medium-sized businesses;
every Bulgarian citizen.
Every restriction of competition leads to one result only — higher prices.
Our demands
BASAT calls for:
full transparency in the actions of the FSC;
clear decisions supported by publicly available reasoning;
guarantees of genuine and free competition in the sector;
protection of the interests of businesses and consumers.
The insurance market cannot be governed through restrictions and suspicions of selective treatment.
The regulator must serve as a guarantor of balance, not as a factor contributing to market distortion.
Otherwise, the consequences will be severe—not only for the sector but for the entire economy.
Bulgarian Association of Road Transport Organizations (BASAT)
