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Anti-monopoly commission suspends railway company’s insurance tender

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Anti-monopoly commission suspends railway company’s insurance tender

Bulgaria's Commission for the Protection of Competition (CPC) regulator said that it has suspended the 18,7 million leva tender by state-owned railway company BDZ for insurance of its rolling stock and properties at the request of local insurer OZK, SeeNews reported.

The suspension of tender will not negatively affect the interests of BDZ Passenger Division, especially having in mind the short period of time, in which the regulator must issue its ruling on the complaint submitted by Sofia-based OZK Insurance, the CPC said in a statement.

In its complaint, OZK Insurance objects to the minimum requirement for a turnover of 1 million levs from insurance of rolling stock in the past three full years. According to OZK, only two of the local 39 insurers active in the segment meet that requirement - Generali and Bulstrad Vienna Insurance Group.

The regulator's decision can be appealed before the Supreme Administrative Court within three days from receiving notification. OZK Insurance filed its complaint on July 26 and the regulator opened proceedings on July 27.

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