Finance Prosecutors and SANS join the Financial Supervision Commission for "Olympic"

In the case of the unsuccessful Olympic insurer "Olympic", alongside the injured, regulators and politicians, the state declaration also intervened. This morning, chief prosecutor Sotir Tsatsarov ordered a check from the Financial Supervision Commission, which will be executed by Supreme Cassation Prosecutor's Office and SANS.

The action appears to be an attempt by the ruling authorities to reduce the tension on the matter by showing actions. At the end of last week, the Bulgarian Socialist Party called for an extraordinary session of parliament for the closed trade register and the case of "Olympic", and weekend leader Kornelia Ninova and Prime Minister Boyko Borisov entered into a dialogue on the subject.

What will be checked

"The object of the inspection is the manner of carrying out the supervision of the state supervision by the Commission, the vice-chairman in charge of the Supervision of Insurance Department and the management with regard to the specific insurer. the branch of Olympic Airlines in Bulgaria, exercising the powers of the supervisory authorities under the Insurance Act and the law on financial supervision, as well as the exercise of the current supervision Including subsequently issued ban "Olympic" to conclude new contracts and to expand the existing one, "according to the official statement from the prosecution.

There are no explanations for possible violations of the Caciarov office. Since 10 May (since the ban on signing new policies), the Bulgarian FSC has argued that they have almost no control over the "Olympic" activities in the country on the basis of its Cypriot license and the unified passport, giving it the freedom to services in the European Union.

The announcement does not make clear whether the Public Prosecution Service also intends to carry out inspections in the offices of the bankrupt company itself or that it has called in the help of the Cypriot authorities.

Mellow dissatisfaction

Despite criticism from media and social networks at the FSC, so far organized protests by Olympic customers have gathered a minimal presence of a maximum of a few dozen people. According to data from the Guarantee Fund, the company has almost 200,000 civil liability insurance policies in Bulgaria, which were automatically terminated on 18 August. At the end of last week, 66,000 of Olympic customers had contracts with other insurers.

The main demands of the demonstrators are in different directions: the implementation of their policies must be continued, compensated by the Bulgarian guarantee fund and the FSC must bear responsibility for dismissal.

The inspection is carried out by a public prosecutor from the Supreme Cassation Prosecutor office and is entrusted to the National Bureau for National Security.

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