On Oct. 1, 2026, BUL FSC issued notification under art 66 of Administrative Procedure Code for the initiation of proceedings for the issuance of a general administrative act.
Document dated Oct. 1, 2026, received from BUL FSC Oct. 5, summarized on Oct. 8.
Also published Draft Decision based on the specified provisions of Ordinance No. 54 for consultation; responses invited in writing by Nov. 2, 2026.
Informing interested parties that by decision under Protocol No. 78 of Oct. 1, 2026, it initiated proceedings for issuance of a general administrative act to determine the form and content of reports under Art. 7(2) and Art. 13(2) of Ordinance No. 54/2016.
BUL FSC to adopt by decision amendments to the reports within 3 months of entry into force; reports to be brought into line with amended regulatory framework.
And data processed Unified Information System for Risk Assessment, Management and Control (UISOCRC).
Annex No. 1 to draft Dec specifies data for contracts for compulsory third party liability insurance for motorists, border insurance and compulsory accident insurance for passengers in public transport vehicles; data for recording changes to contracts.
Fields for identifying vehicle, its registration and its owner are updated, including when the vehicle is not registered under the Road Traffic Act.
Annex No. 2 to draft Dec defines format/content of information on claims, payments, related circumstances; coordinated description of data in both annexes necessary for linking and verifying information on contracts and events in the UISOCRC.
Explicit definition of fields and the method of filling them in aims at uniform application of the requirements by insurers and the Guarantee Fund.
Due to the scope of the changes, draft provides for a new decision with annexes No. 1 and 2 and repeal of Decision No. 529-RGF of 27.03.2017; in order to avoid the simultaneous operation of different forms for submitting the same data.
BUL FSC published board decision to adopt, and publish for consultation, a draft ordinance for amendment and supplementation of Ordinance No 54 of Dec. 30, 2016 on registers of the Guarantee Fund for exchange and protection of information and for issuance and reporting of compulsory insurances under art 461 of Insurance Code.
Follows BUL FSC Jan. 2026, issued decision from meeting of Jan. 15, 2026, #283550.
Follows BUL FSC Feb. 2026, consulted, draft re motor insurance civil liability, #285785.
Key Points
Proposals to amend and supplement the Insurance Code (SG, No. 63 of 2025), and requirements of EU Directive 2021/2118 on insurance against civil liability in respect of the use of motor vehicles and for control over obligation to conclude such insurance.
Draft regulation aims to establish a reliable, functional process for official use of data from insurance claims register to ensure the possibility of applying bonus-malus system for compulsory motor third-party liability insurance by insurers.
Aims to ensure reliable, accurate, and timely information in insurance claims register, to enable functioning of processes for official use of data to conclude mandatory motor vehicle liability insurance, as well as for issuing insurance claims certificates.
Proposes regulating insurers' access to register of road traffic accidents to prevent insurance fraud in accordance with the legal delegations under the Insurance Code.
Aims to avoid situations where impossible for motorists to conclude compulsory motor third-party liability insurance due to technical inability of Guarantee Fund to process.
Creates conditions for monitoring use of the electronic service for extracting data from the vehicle and owner registry, established and maintained by the Ministry of Interior, in order to exercise the supervisory powers of the Financial Supervision Commission.
Establishes modern requirements for information systems of the Guarantee Fund to ensure their functionality, reliability and compatibility with insurers' systems, and to regulate transitional periods for implementation of amendments of market participants.
Effectiveness
Consultation open for 30 days from publication, and closes on Mar. 30, 2026.
Jul. 2026 Update
On Jul. 14, 2026, BUL FSC adopted a second reading an ordinance amending, supplementing Ordinance 54/2016 on registers of Guarantee Fund for exchange and protection of information, issuance, reporting of compulsory insurance under the Insurance Code.
Also 2nd vote on Ordinance amending and supplementing Ordinance 49/2014 on the mandatory insurance under Civil Liability insurance for motorists and Accident insurance for passengers in public transport.
Both to be published in gazette post completion of relevant administrative procedures.
Oct. 2026 General Administrative Act
On Oct. 1, 2026, BUL FSC initiated proceedings to issue a general administrative act on the form and content of reports under Ordinance 54/2016 on registers of Guarantee Fund for exchange and protection of information, issuance, reporting of compulsory insurance under the Insurance Code.
Also initiated proceedings to publish the corresponding notice required as per the Administrative Procedure Code.
On Oct. 1, 2026, BUL FSC issued notification under art 66 of Administrative Procedure Code for the initiation of proceedings for the issuance of a general administrative act.
Document dated Oct. 1, 2026, received from BUL FSC Oct. 5, summarized on Oct. 8.
Also published Draft Decision based on the specified provisions of Ordinance No. 54 for consultation; responses invited in writing by Nov. 2, 2026.
Informing interested parties that by decision under Protocol No. 78 of Oct. 1, 2026, it initiated proceedings for issuance of a general administrative act to determine the form and content of reports under Art. 7(2) and Art. 13(2) of Ordinance No. 54/2016.
BUL FSC to adopt by decision amendments to the reports within 3 months of entry into force; reports to be brought into line with amended regulatory framework.
And data processed Unified Information System for Risk Assessment, Management and Control (UISOCRC).
Annex No. 1 to draft Dec specifies data for contracts for compulsory third party liability insurance for motorists, border insurance and compulsory accident insurance for passengers in public transport vehicles; data for recording changes to contracts.
Fields for identifying vehicle, its registration and its owner are updated, including when the vehicle is not registered under the Road Traffic Act.
Annex No. 2 to draft Dec defines format/content of information on claims, payments, related circumstances; coordinated description of data in both annexes necessary for linking and verifying information on contracts and events in the UISOCRC.
Explicit definition of fields and the method of filling them in aims at uniform application of the requirements by insurers and the Guarantee Fund.
Due to the scope of the changes, draft provides for a new decision with annexes No. 1 and 2 and repeal of Decision No. 529-RGF of 27.03.2017; in order to avoid the simultaneous operation of different forms for submitting the same data.
