THE INSURANCE MARKET IN BULGARIA, AUGUST 2005

At the end of august 2005, the third consecutive survey was conducted to study and assess the insurance market and services in Bulgaria in one year period. The survey was representative of the country’s adult population. The size of the two-stage cluster sample was N=1000 covering the whole territory of the country. Information was collected by the method of the face-to-face in-home interview.

In the last 12 months respondents who made insurance “Third party liability” have decrease by six percentage points and by two as compared to 2002. Nevertheless, in first six months the “Third party liability” insurance composed 65% of the insurance market in Bulgaria. One of the main premises for the marked increase for this insurance market share is the EU request that ninety present of the automobiles in Bulgaria must have some “Third party liability” insurance. It is also compulsory for all drivers, which is another prerequisite for its overall upward development.

The survey results for the observed period indicate a small decrease in insurances in “Insurance of road vehicles” and “Green card” users; both have insignificant share in car insurance market. Only the “Accident insurance” made a small increase with 1,3 presents in compare with the last year.

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