NATIONAL BUREAU OF BULGARIAN MOTOR INSURERS

About NBBMI

History

The National Bureau of Bulgarian Motor Insurers (NBBMI) is a representative Bureau for the Republic of Bulgaria in the administrative organization Council of Bureaux. It participates in the Green Card system and asists the functioning of the system and the compulsory Motor Third Party Liability Insurance in all countries mebers of the Green acrd and those who have adhered to the Multilatteral Agreement.

The Bureau was established on April 1st,  2002, and in the same year it became a full member of the Council of Bureaux.

Untill 2002 the functions and activities of a National Bureau were performed by Bulstrad PLC.

The National Bureau of Bulgarian Motor Insurers is a non-profit legal entity incorporated in compliance with the provisions of the Non-Profit Legal Entities Act operating under the provisions of the Insurance Code.

By resolution of the National Council on Insurance оf the Republic of Bulgaria dated November 28th, 2001 NBBMI is acknowledged to act as the only representative among the international insurance organizations concerning the activities subject to international contracts for Motor Third Party Liability Insurance.

With the accession of the Republic Bulgaria to the European Union on January 1st, 2007 NBBMI has become a signatory to Annex 3 adhering to the Multilateral Guarantee Agreement of the Member countries of EEА.

Functions

The National Bureau of Bulgarian Motor Insurers – NBBMI:

  • organizes, administers and controls the preparation, print out and issue of the international certificates for motor insurance known as the Green Card certificate as well as the Frontier Insurance contracts.
  • enters into agreements with national insurance bureaux, compensation bodies and guarantee funds of the Member countries in connection with the functioning of the Motor Third Party Liability Insurance.
  • accepts notices of injured persons of damages and injuries caused to them in the territory of the Republic of Bulgaria, by motor vehicles normally based on the territory of a Member country or a Third country.
  • assists for the due payment by the Members of the Bureau of any indemnities for damages caused abroad.
  • provides payments on indemnities as a Compensation Body in the cases stipulated in the Insurance Code and in the Articles of Association of NBBMI.

Structure

According to the Articles of Association of NBBMI the supreme governing body of the Bureau is the General Assembly of the Members.

The Bureau is managed by a Board of Directors, a Chairperson and a Secretary General.

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