The bonus-malus system for third-party liability motor insurance is expected to become operational in February 2027, Financial Supervision Commission (FSC) Deputy Chair Plamen Danailov said in an interview with Bulgarian National Television (BNT) on Saturday. He recalled that the regulations governing the system were adopted in late August, but additional technical time was needed for its practical implementation.
Danailov said it was incorrect to claim that the system would only result in higher premiums, without offering discounts. At the same time, he said drivers should not expect third-party liability insurance to become cheaper for everyone.
He predicted stronger competition among insurers for drivers with clean records, with insurance companies expected to set their terms in ways that would attract such customers.
Danailov stressed that the system would take into account actual insurance claims related to a driver’s behaviour and accidents they had caused.
According to the FSC Deputy Chair, government regulation of insurance prices would be the wrong approach. Instead, each insurance company will establish its own pricing policy and methodology for taking claims history into account, while being required to make that policy publicly available.
Danailov said that the system had been in place for decades in some EU countries, where insurance claims resulting from accidents caused by drivers could be taken into account for periods of up to 10 years. He also said no increase in the price of third-party liability insurance was currently expected as a result of changes involving the Guarantee Fund.
According to Danailov, amendments to the Insurance Code make it easier for injured parties to receive compensation through the fund without fundamentally changing the existing system. The previous procedure had been more cumbersome and slower, while the new rules were intended to allow people to receive payments within significantly shorter periods.
Bonus-Malus System for Third-Party Liability Insurance Expected to Launch in February 2027, FSC Deputy Chair Danailov Says 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-09-26 16:09:32
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