Cheaper Civic if the sticker drops

[[MC]Ronin[MC]]

Cheaper Civic if the sticker drops

The removal would save BGN 10 million, insurers say

 

 

 

The Association of Bulgarian Insurers (ABZ) proposes dropping the sticker intended to certify the existence of motor third party liability insurance.

According to the insurers, there is no need for the patch to be available, given the existing possibilities for validation and electronic control of the existence of valid insurance.
 
Liability insurance is issued solely and only through the Unified Information System for Risk Assessment, Management and Control (EISOCR), respectively by the information systems of the insurers that are related to it. This allows each policy taken to be reported in real time at the Guarantee Fund (GF) Information Center and monitored electronically.
 

According to the companies, this will also save considerable resources and resources that burden the cost of insurance.

Dropping the sticker would result in direct savings for the clients from the value of the stickers themselves. At the moment, the premium for each insurance is calculated and the price of the stickers with a single value of 1.40 levs per number, with a deferred payment of 4 installments the amount increases up to 5.60 levs. about BGN 10.44 million

The removal of the sticker would also save considerable administrative and financial resources that the insurance industry is committed to receiving, processing, administering and reporting on the stickers.

Removing it will also make it easier to take out insurance online and remotely, and to make non-cash payments of premiums and premiums on the policy. Then the presence of a client in the insurer's office will not be necessary.
 
The current emergency situation, caused by the COVID-19 pandemic, clearly demonstrates the meaning and the need to fully digitize the insurance process, the companies are adamant.

ABZ believes that the removal of the compulsory Motor Third Party Liability insurance sticker is necessary and will be timely, with benefits for both businesses and consumers of insurance services.

Changes to the Insurance Code and other regulations are needed to implement this proposal, and ABZ is ready to cooperate in this regard to achieve a result for the benefit of the entire community.
 
The ABZ has sent its proposal to the FSC and will acquaint it with other competent state authorities.