Банкеръ Weekly

Briefs

ALLIANZ BULGARIA ALREADY PAYS FOR THE RECENT HAILSTORM

The insurance and reinsurance joint-stock company Allianz Bulgaria will pay about BGN1.6MN in compensation to the owners of property, that suffered losses from the hailstorm on June 25. The company's Executive Direcor Temenouga Nenova announced there were firms and companies, who had not presented their cars for evaluation of damages yet. However, applications for compensation can still be filed, although the fixed term in the contracts is up to five days after the natural disaster. Unlike the other insurers, Allianz Bulgaria did not demand additional documents from the meteorological or the traffic control service when registering and assessing the damages. Almost 800 damages have been registered in Sofia so far. These are mainly cars, injured by the ice pieces. The damages are estimated at between BGN800 and BGN5,000 depending on the individual damage and the make of the car. As of July 4 the customers can get their compensations in the branch office of Bulgaria Invest Commercial Bank in the Car Insurance department of Allianz Bulgaria at No 4, Simeonovsko Chausse boulevard, or the money can be remitted to an account (specified by them) in another bank. Owners who have already paid from their own money for the repair of their car, will recieve the amount for which they provide an invoice. The company informed its clients that Allianz Bulgaria has contracts with automobile repairing service stations, where their cars will be repaired free of charge.The Executive Director of Allianz Bulgaria Orlin Penev announced that the hailstorm inflicted most damages to agriculture in the regions of Montana, Pleven, Vratsa, Kurdjali, Smolyan and Dobrich. The largest compensations, amounting to BGN150,000 were paid in Sofia. The compensation, paid by the company in the entire country totalled BGN240,000.Allianz Bulgaria reported that the gross premium proceeds of the company amounted to BGN 41,622,000 in the first six months of 2002. This means that 30% growth from the same period of last year was realized. Thus, Allianz Bulgaria retained its leadership on the local insurance market.

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