A 100% growth of submitted insurance claims within a year

"In the first quarter of 2012, we reported a 100% growth of the submitted insurance claims, compared to the same period of last year,"Valentina Gicheva, Director of Liquidation of Damages department at the Bulgarian Export Insurance Agency (BEIA), said for Klassa.
According to her, this indicator constantly increases also because of the higher volume of paid insurance compensations. "Growth of insurance volumes and of the paid compensations, respectively, is reported each year," specified Gicheva. Now, all the compensations are not paid from the Treasury, but from the premium revenues of the agency.

At its meeting today, the Government decided that a total of BGN 85 mln would be extended from the central budget for export insurance in 2012. BEIA experts specified that this year, the amount increased by BGN 5 mln because the State provides insurance coverage for the exports of small- and medium-sized Bulgarian businesses to more risky countries, i.e. to countries with a higher credit risk. These are mainly the former Soviet Union republics and former Yugoslavia, as well as other OECD countries, but outside the EU.

As a result, the aggregate amount of the insurance capacity for BEIA's operation in 2012 will total BGN 1,300,803,389, out of which BGN 845,522,203 - net capacity of the insurance agency for this year.

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