The Chair of the Association of Bulgarian Insurers (ABZ), Nikolay Stanchev, moderated the panel “Security and Sustainability in Insurance” during the first edition of the “FSC Speaks” forum, organized by the Financial Supervision Commission (FSC) on November 14, 2025. The event brought together representatives of the three supervised sectors — insurance, capital markets, and pension insurance — for an open discussion on key topics for the industry.
The panel included Plamen Danailov, Deputy Chair of the FSC and Head of the Insurance Supervision Division, as well as FSC experts Nikolay Petkov, Zhivka Slavkova, and Tsvetomir Velinov.
As moderator of the discussion, Nikolay Stanchev emphasized the importance of consistent and open dialogue between the regulator and the insurance sector. He noted that the “FSC Speaks” format is a strong signal of more active engagement and a search for practical solutions at a time of significant changes in the regulatory framework and increasing dynamics in technological, economic, and social processes. “When we look in the same direction, we can achieve solutions that make the system stronger and society better protected,” Stanchev stated.
In his remarks, he outlined the key topics for the sector: the evolution of regulation, directing insurers’ investment potential to support the Bulgarian economy, the need for a comprehensive policy for managing climate and catastrophic risks, and the importance of coordinated positions at both national and European level to protect Bulgaria’s interests.
FSC Deputy Chair Plamen Danailov highlighted that the regulator’s new policy is strongly focused on pragmatic dialogue with the business community. He cited as an example the removal of the double audit requirement for insurers — a concrete result of constructive interaction between the FSC and the sector. Danailov also addressed the most current topics in insurance, including the upcoming introduction of the “bonus-malus” system, for which the preparation of secondary legislation is actively underway.
FSC experts Nikolay Petkov, Zhivka Slavkova, and Tsvetomir Velinov discussed key regulatory topics such as developments in motor insurance regulation, forthcoming reforms in the recovery and resolution of insurers and reinsurers, updates to the insurance activity framework following the Solvency II review, as well as issues related to the introduction of the euro.
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