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dc.contributor.authorProdanov, Stoyan
dc.contributor.authorStanimirov, Stefan
dc.date.accessioned2021-01-26T16:38:32Z
dc.date.accessioned2021-01-26T16:38:32Z
dc.date.available2021-01-26T16:38:32Z
dc.date.available2021-01-26T16:38:32Z
dc.date.issued2020
dc.identifier.issn0323-9004
dc.identifier.urihttp://hdl.handle.net/10610/4346
dc.description.abstractThe present study focuses on the development of the Bulgarian insurance market in the second decade of the XX century. It examines the issues of the relationship between the global financial sector, insurance and the phases of economic cycles; the debate on the importance of the financial sector and insurance for the economic development; the establishment of correlations and dependencies between the dynamics of GDP and the dynamics of the Gross Premium Income (GPI) in the general insurance sector in Bulgaria for the period 2007-2019, presenting prospective reflections and assessment of the impact of the global pandemic COVID-19 on the Bulgarian insurance market. The linear model in a realistic scenario forecasts a decline in GPI of 18.2%, in a GDP decline of 9.0%. An additional assessment and forecast made using the model is that a decrease between 12.4% and 25% of GPI from the compulsory motor third party liability insurance (at the indicated level of GDP decline) will have a destructive effect on the Bulgarian model of general insurance, due to the impossibility to perform the social functions of this insurance such as the protection of victims of road accidents.us_US
dc.publisherTsenov Publishing HouseEN_en
dc.relation.ispartofseries2;2
dc.subjecteconomic growthus_US
dc.subjectinsurance marketus_US
dc.subjectgeneral insuranceus_US
dc.subjectmotor third party liabilityus_US
dc.subjectCOVID-19us_US
dc.titleDevelopment of the Bulgarian Insurance Market - Crisis Challenges of the Decadeus_US
dc.typeArticleus_US


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