Guarantee Fund (Bulgaria)

The Garantsionen Fond is an institution located in Sofia that plays a significant role in protecting the interests of citizens and maintaining stability in the insurance sector, as well as public trust in it. The main function of the Garantsionen Fond is to guarantee compensation for injured individuals in road accidents involving uninsured and unidentified vehicles, as well as to secure the guaranteed claims of insured individuals in the event of insolvency of the insurer. The Fond also provides various information services and inquiries to citizens. The Garantsionen Fond implements active measures to increase the coverage of the "Civil Liability" insurance for motorists, thereby protecting the interests of responsible drivers and society. Through its support of projects by the Ministry of Interior for the provision of technology and information and communication technologies, the institution contributes to more effective road control and improving road safety in the country. The Garantsionen Fond was established in 1997 with the Insurance Act and operates in accordance with the current legislation and internal regulations for its structure and activities. The institution is a full member of the "Council of Bureaux," which manages the international motor insurance system "Green Card."