site.btaProperty Insurance Level in Bulgaria Is Ten Times Lower than in Europe - Association of Bulgarian Insurers

The share of property insured against natural disasters in Bulgaria has been only 2% over the past 40 years, compared to a ten times higher average for Europe - 22%, Konstantin Velev, chairman of the Association of Bulgarian Insurers (ABI), told journalists. He was speaking at an ABI-organised discussion on property insurance held here on Tuesday. Thus, the cost of recovery after adverse events is borne by the state budget, businesses and households, instead of the risk being transferred to insurers, he added.