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Bulgaria Abolishes Car Insurance Threshold

Date: 08.12.2005
Bulgaria's government decided to abolish the minimum threshold of the mandatory automobile "Third party liability insurance" on Thursday. The MPs accepted the final version of the Insurance Code, thus preparing the country for a liberalized insurance market. As a result of the changes each insurer would be able to determine their own prices for the obligatory insurance. Thus drivers could choose an insurer depending on different factors, and that could lead to lower prices.
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