site.btaTaxi Industry Calls on Political Leaders to Address Spike in Insurance Rates, Threatens Protests

Taxi Drivers Association – Plovdiv and Non Organisation Taxi Union – Sofia said in an open letter released on Sunday that they call on President Rumen Radev, caretaker Prime Minister Dimitar Glavchev, caretaker Minister of Transport and Communications Krasimira Stoyanova and on the leaders of the political entities in the 51st National Assembly to take a position on the increasing prices of liability insurance problem that impacts their industry. The letter reports that insurance companies unexpectedly raised the premium of compulsory third party insurance for taxi vehicles by between 300% and 1000% in October 2024.

According to the industry representatives, such a spike is "completely disproportionate to the revenue generated in the taxi industry". The associations add that even if taxi fares were increased, the revenue could not cover the expenses incurred, which would bankrupt a significant number of small companies.

The letter warns: "If no measures are taken within 15 days to curb this abuse by insurance companies, we will stage a national protest on November 20 in all major cities of the country." The two taxi organizations report that the industry employs some 35,000 workers, which means that more than 100,000 Bulgarians rely on it for their income.

The letter concludes: "We hope that this huge problem will be solved by political consensus and will not to be used for political PR by individual political parties."

Hundreds of taxi drivers already rallied here at the end of last month to protest the spike in insurance rates.