site.btaInsurer Bulstrad Accused of Breaking Competition Law

Sofia, July 6 (BTA) - The Commission for Protection of Competition has found that ZAD Bulstrad Vienna Insurance Group and its life insurance arm, ZEAD Bulstrad Life Vienna Insurance Group, have violated Bulgaria's Competition Protection Act by imposing unlawful vertical arrangements about resale prices in brokerage contracts with insurance agents.

The companies have 30 days to submit written objections to the commission's statements. The determinations are unappealable, the commission said.