Rumen Erusalimov, Nikolay Valeriev Iliev
THE IMPACT OF COVID-19 ON DEVELOPMENT
OF MOTOR CASCO INSURANCE IN BULGARIA
Abstract:
: Motor Casco Insurance is the most concluded voluntary insurance policy on the Bulgarian insurance market and in recent years its market share is about 27% in the General (Non-life) Insurance Section.
The aim of the study is to assess the impact of measures taken by the state to limit the spread of SARS-CoV-2 virus on the development of Motor Casco Insurance.
As a result of the study, it was found that the measures imposed by the state did not significantly affect the development of Motor Casco Insurance in Bulgaria, but simply slowed down its pace. However, there is a significant reduction in the number of road accidents, especially in 2020, which is also reflected on the reduction of insurance payments.
