{"id":253,"date":"2026-05-18T12:00:00","date_gmt":"2026-05-18T09:00:00","guid":{"rendered":"https:\/\/zatvor-za-komisiyata-po-finansov-teror.com\/report-on-the-critical-state-of-supervision-of-the-insurance-sector-the-15-year-institutional-sabotage-of-the-bonus-malus-system-and-the-need-for-immediate-personnel-and-structural-changes-in-the-fi\/"},"modified":"2026-07-13T12:08:44","modified_gmt":"2026-07-13T09:08:44","slug":"report-on-the-critical-state-of-supervision-of-the-insurance-sector-the-15-year-institutional-sabotage-of-the-bonus-malus-system-and-the-need-for-immediate-personnel-and-structural-changes-in-the-fi","status":"publish","type":"post","link":"https:\/\/zatvor-za-komisiyata-po-finansov-teror.com\/en\/report-on-the-critical-state-of-supervision-of-the-insurance-sector-the-15-year-institutional-sabotage-of-the-bonus-malus-system-and-the-need-for-immediate-personnel-and-structural-changes-in-the-fi\/","title":{"rendered":"Report on the Critical State of Supervision of the Insurance Sector, the 15-Year Institutional Sabotage of the Bonus-Malus System, and the Need for Immediate Personnel and Structural Changes in the Financial Supervision Commission (FSC)"},"content":{"rendered":"\n

TO: Mr. Rumen Radev Prime Minister of the Republic of Bulgaria<\/p>\n\n\n\n

FROM: Institute for Road Safety<\/p>\n\n\n\n

DEAR MR. PRIME MINISTER,<\/p>\n\n\n\n

The Institute for Road Safety is addressing you at a time of unprecedented public tension. The compulsory Motor Third Party Liability Insurance, affecting more than 3 million Bulgarian citizens, has ultimately lost its social function and has been transformed into a private quasi-tax.<\/p>\n\n\n\n

This report provides what it describes as indisputable evidence that the Financial Supervision Commission (FSC) is a failed institution that systematically refuses to protect the public interest, acting instead as a shield for corporate interests. The only unavoidable solution to overcoming the crisis is to replace the leadership of the FSC and implement a radical reform of the supervisory model.<\/p>\n\n\n\n

EVIDENCE OF THE FSC’S FAILURE: 15 YEARS OF SABOTAGE<\/p>\n\n\n\n

The institutional weakness of the FSC is not the result of incompetence but, according to the report, of deliberate passivity. The following facts are presented as evidence of the regulator’s complete failure.<\/p>\n\n\n\n

1. Chronicle of Criminal Inaction:<\/p>\n\n\n\n

The “Bonus-Malus” Case<\/p>\n\n\n\n

For more than 15 years, Bulgaria has remained the only country in the European Union without an operational Bonus-Malus system.<\/p>\n\n\n\n

\u2022 The insurance lobby has no economic interest in introducing such a system because more than 80% of Bulgarian drivers have clean records and, under a fair model, their insurance premiums would have to decrease substantially.<\/p>\n\n\n\n

\u2022 During these 15 years, the FSC organized dozens of “public consultations” and produced several cosmetic and deliberately impracticable proposals with the sole purpose of delaying and prolonging the process. According to the report, this constitutes direct sabotage against the financial interests of Bulgarian taxpayers.<\/p>\n\n\n\n

2. Complete “Blackout” and Lack of Market Oversight<\/p>\n\n\n\n

The FSC has allegedly allowed a complete absence of supervision over pricing. Insurance companies increase Motor Third Party Liability insurance premiums without any publicly available, economically justified methodology. The regulator has not conducted a single public audit demonstrating whether the price increases correspond to actual claims experience or result from an alleged cartel agreement.<\/p>\n\n\n\n

3. Capitulation in Consumer Protection<\/p>\n\n\n\n

While insurance companies accumulate millions in revenue, citizens face cumbersome procedures, refusals to pay compensation, and reduced assessments of damages. According to the report, the FSC functions merely as a “mailbox” for complaints without imposing effective sanctions capable of disciplining the market.<\/p>\n\n\n\n

THE PEAK OF PUBLIC DISCONTENT<\/p>\n\n\n\n

Dear Mr. Prime Minister, The accumulated public anger can no longer be contained through bureaucratic explanations. The absence of action by the state is interpreted as institutional protection of the insurance sector. The approaching public protests are described as a direct consequence of the perception that the regulatory authorities are powerless. When the regulator is perceived as either compromised or intimidated, the only remaining defender of citizens is the executive branch represented by the Council of Ministers.\r\n<\/p>\n\n\n\n

THE UNAVOIDABLE SOLUTION: A PACKAGE OF URGENT MEASURES<\/p>\n\n\n\n

The Institute for Road Safety calls for your decisive intervention through the following steps:<\/p>\n\n\n\n

1. Personnel Reset of the FSC\r\nImmediate action to terminate the mandates and replace the current leadership of the Financial Supervision Commission due to the alleged systematic failure to fulfil its statutory obligations and the complete loss of public confidence. Appointment of new officials with proven integrity and no connections to the alleged insurance cartel.\r\n<\/p>\n\n\n\n

2. Audit\r\nAppointment of an independent inter-agency investigation (with the participation of the State Agency for National Security (SANS) and the National Revenue Agency (NRA)) into the financial flows within the insurance sector, the relationship between collected premiums and paid claims, and potential conflicts of interest within the FSC itself.\r\n<\/p>\n\n\n\n

3. Bonus-Malus Ultimatum\r\nEstablishing a clear and short deadline (no longer than six months) for the newly appointed FSC leadership to implement either the French or the German Bonus-Malus model, adapted for Bulgaria.\r\n<\/p>\n\n\n\n

CONCLUSION<\/p>\n\n\n\n

Mr. Prime Minister, According to the Institute for Road Safety, reform of insurance supervision is no longer merely an expert issue\u2014it has become a matter of national security and social stability. Maintaining the current situation within the FSC would, in the Institute’s view, amount to complicity in the depletion of Bulgarian household incomes. The time for compromise has expired. Political will, new leadership, and a radical break with existing dependencies are now required.\r\n<\/p>\n\n\n\n

Respectfully,<\/p>\n\n\n\n

Team of the Institute for Road Safety<\/strong><\/em><\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

TO: Mr. Rumen Radev Prime Minister of the Republic of Bulgaria FROM: Institute for Road Safety DEAR MR. PRIME MINISTER, The Institute for Road Safety is addressing you at a time of unprecedented public tension. The compulsory Motor Third Party Liability Insurance, affecting more than 3 million Bulgarian citizens, has ultimately lost its social function […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-253","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/zatvor-za-komisiyata-po-finansov-teror.com\/en\/wp-json\/wp\/v2\/posts\/253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zatvor-za-komisiyata-po-finansov-teror.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zatvor-za-komisiyata-po-finansov-teror.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zatvor-za-komisiyata-po-finansov-teror.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zatvor-za-komisiyata-po-finansov-teror.com\/en\/wp-json\/wp\/v2\/comments?post=253"}],"version-history":[{"count":2,"href":"https:\/\/zatvor-za-komisiyata-po-finansov-teror.com\/en\/wp-json\/wp\/v2\/posts\/253\/revisions"}],"predecessor-version":[{"id":299,"href":"https:\/\/zatvor-za-komisiyata-po-finansov-teror.com\/en\/wp-json\/wp\/v2\/posts\/253\/revisions\/299"}],"wp:attachment":[{"href":"https:\/\/zatvor-za-komisiyata-po-finansov-teror.com\/en\/wp-json\/wp\/v2\/media?parent=253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zatvor-za-komisiyata-po-finansov-teror.com\/en\/wp-json\/wp\/v2\/categories?post=253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zatvor-za-komisiyata-po-finansov-teror.com\/en\/wp-json\/wp\/v2\/tags?post=253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}