On the program "The Day Begins," Nikolay Stanchev also commented “Motor Third Party Liability" (MTPL) insurance for motorcycles, emphasizing that insurance premiums should reflect the actual risk and that decisions should not be made under pressure.
In recent years an increasing frequency of natural disasters – hails, storms, fires, and other extreme weather events – has been observed. In this context, insurance remains the most effective mechanism for protecting agricultural producers and people in general from severe financial consequences, says Nikolay Stanchev, Chairman of the Executive Board of the Association of Bulgarian Insurers (ABZ), on the BNT program "The Day Begins".
"Insurance is the most effective way for farmers, and all people, to protect their property," emphasized Nikolay Stanchev. He noted the increased interest of agricultural producers in insurance over the past year as a positive trend. According to him, one of the main reasons is the existing scheme through which the state subsidizes up to 70% of the insurance premium.
Nikolay Stanchev also commented on the public tension surrounding the prices of the mandatory "Civil Liability" insurance for motorcycles. He emphasized that the topic is sensitive but should be examined through facts, actual risk, and the protection of victims, rather than through pressure or populist decisions.
"Prices should not be determined politically. The premium must cover the risk, because only in this way can the system remain stable and guarantee the payment of compensation in the event of an accident", was the main message in his statement.
He pointed out that motorcycles have a specific problem related to the installment payment of annual policies. According to ABZ data, over the past five years, 52% of motorcycle and moped policies have not been paid in full, most often because only the first installments are paid. At the same time, risk coverage is calculated based on the annual premium.
The ABZ Chairman also noted that for 2024 alone, paid claims for motorcycles amounted to nearly €6 million, and the average claim amount per accident is around €3,500. He emphasized that ABZ is open to dialogue and to finding a working solution for motorcyclists, but it must be legally sound, practically applicable, and fair to all parties – motorcyclists, victims, and the insurance system.
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