Balkan Insurance Brokerage AD is one of the oldest and respected insurance brokers in the Bulgarian market.
The broker’s policy is directed towards the complex servicing of corporate clients in terms of their financial and business protection and efficiency. For this purpose, BIB constantly researches the market, develops and introduces innovative financial instruments to its clients at competitive prices.
BIB is one of the few insurance brokers in Bulgaria, which are competent enough to offer the following services:
1. Insurance “Financial Risk”: suitable for companies of all sectors, which are operating under the conditions of delayed payments from their partners. It specifically covers: trade risks, investments, bank credits, bank guarantees, letters of credit and political risks.
-Optimal conditions for the business
-Reduced risk of financial losses
-Adequate portfolio management
-Cooperation from the broker for the preparation of all documents during the whole process
2. Insurance “Guarantee” (Bond): this is an insurance, which secures the execution by covering the executor’s responsibility.
Up until recently, the opportunities were limited to providing a banking or a monetary guarantee. The implementation of a guarantee in the form of insurance is a novelty for Bulgaria, but it is a long-standing practice in the other European countries. It is suitable for both public/state tenders and private tenders.
The “Guarantee” insurance is suitable for a wide specter of companies – construction, consultant, IT, service delivery etc.
-doesn’t block funds and doesn’t impose distraints on assets of the executor
-the insurance company is committed to the fulfilment of the contract
-the actual fulfilment of the contract is important for the beneficiary.
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