Bulgaria’s Parliament Thursday conclusively adopted amendments to the Insurance Code allowing third-party liability insurance policies for certain vehicles, including motorhomes and motorcycles, to be issued for periods of at least 30 days. The revisions were introduced by Daniel Parushev and MPs from Progressive Bulgaria. At the proposal of Petar Petrov of Vazrazhdane, made from the parliamentary rostrum, MPs explicitly extended the provision to insurance periods of three or six months as well.
The option applies to vehicles with temporary or transit registration, for the duration of the registration’s validity; slow-moving road vehicles; self-propelled machinery; category L motor vehicles as defined by the Road Traffic Act; and camping trailers or motorhomes.
Petrov justified the proposal by pointing to the possibility of problems arising if the permitted insurance periods were not explicitly specified. Without such a provision, insurers would be free to choose the policy duration, he argued.
Vladislav Goranov of GERB-UDF said he would refrain from supporting such a proposal. Adopting this provision could lead insurers to refuse to conclude such insurance contracts despite the mandatory wording of the law, he said. Aleksandar Ivanov of GERB-UDF said Bulgaria’s insurance market was highly competitive, with more than 20 companies offering third-party liability insurance. “We cannot use legislation to set the threshold for the premium on this insurance,” the MP added.
On June 19, motorcyclists staged a protest in downtown Sofia over third-party liability insurance. They opposed increases in premiums and called on insurers to offer policies for periods shorter than one year. They also demanded the reinstatement of instalment payments, which they said had been restricted by all insurance companies in early March.
Under other amendments adopted, the Financial Supervision Commission will also be able to decide on its own initiative to cover funding shortfalls in the funds managed by the Guarantee Fund, rather than acting only on a proposal from the fund’s Management Board. According to the bill’s sponsors, the changes will allow a faster response when additional funding is needed.
The amendments also enable the Guarantee Fund, through its Security Fund, to make payments on behalf of the National Bureau of Bulgarian Motor Insurers for liabilities related to an insurer whose licence has been revoked. These include compensation, interest, expenses incurred in settling insurance claims and claim-handling fees. The aim is to spare the Bureau from having to advance the funds and subsequently seek reimbursement.
Parliament Approves Third-Party Liability Policies of at Least 30 Days for Motorcycles, Motorhomes, Other Vehicles 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-10-15 09:21:34
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BULGARIA NEWS – NEWS AGENCY 2009–2026 2026-10-15 09:21:34