CHALLENGES TO INSURANCE INTERMEDIARIES IN THE CONDITIONS OF NEW REGULATIONS

Authors

Keywords
insurance, insurance broker, insurance agent, insurance market, premium income

Summary
The present study presents the results of a survey conducted by insurance intermediaries in Bulgaria in 2017 and carried out under project ¹ 4-2017 of the Institute for Scientific Research. The main objective of the survey is to outline the situation and the opportunities for improving the activity of the insurance intermediaries in compliance with the European Union regulations. The argument is that insurance intermediaries are a determining factor for the development of insurance companies. Proving the thesis has been achieved by solving the following important tasks:indication of the need and importance of insurance intermediaries; systematized and analyzed data showing the state of mediation activity in Bulgaria for the period 2007-2016; the conditions for registration and deletion of the insurance broker.

Insurance brokers in Bulgaria have been found to be important in the formation of premium income. The pace of development of the insurance market lags behind the pace of development of insurance brokers. The pace of development of insurance agents lags behind the pace of development of insurance brokers. The pace of development of insurance agents- natural persons lags behind the pace of development of insurance agents. The rate of growth of premium income realized by insurance brokers in the non-life insurance sector lags behind the rate of growth of premium income realized by insurance brokers in the life insurance sector.

JEL: G22
Pages: 28
Price: 3 Points

More titles

  • CORPORATE SOCIAL RESPONSIBILITY REPORTING

    The purpose of this study is to present the results of scientific research on Corpo-rate Social Responsibility reporting. The subject of the research comprises Bulgarian business organizations, while its scope is the theoretical aspects of Corporate Social Responsibility reporting and the extent to which Bulgarian enterprises use the capacity of ...

  • CURRENT STATE, PROBLEMS AND DEVELOPMENT PROSPECTS FOR ENTREPRENEURSHIP IN THE SPHERE OF TOURISM IN BULGARIA

    The entrepreneurial activity can thrive in all spheres and sectors of the economy but tourism sector is of particular importance. Entrepreneurial activity in tourism is determined by the availability of suitable conditions for the development of the tourism business. Thus, the objective of the research is to study empirically the current state of ...

  • THE SYSTEMS FOR FINANCIAL MANAGEMENT AND CONTROL IN THE BULGARIAN MUNICIPALITIES - STATE AND PROSPECTS

    The aim of this paper is to present the results of an empirical study on the practice of Bulgarian municipalities in the implementation of the financial management and control systems (FMCS) and provide guidelines for future development and improvement of these systems. The tasks that have been performed in order to achieve the objectives are ...