Insurance Dispute Advocate Markov v Allianz Bulgaria

April 28, 2024
Last Updated: April 28, 2024
Advocate Markov helps with claims against insurers

Advocate Vasil Markov recently won a case against Insurance Company Allianz Bulgaria EAD, emphasizing the importance of compliance with insurance agreements. The case drew attention due to its impact on insurance practices and consumer rights in Bulgaria.

The conflict began when Allianz refused to pay compensation for property damage despite the appellant having full coverage. Advocate Markov took legal action, arguing that the denial was contrary to the insurance policy terms.

The court ordered Allianz to pay the compensation and cover all litigation costs. This decision not only benefitted the appellant but also set a precedent for enforcing fair practices in Bulgaria’s insurance industry. The case showcased Advocate Markov’s expertise in defending consumer rights against major financial institutions.

Reminder to Insurance Companies

This case serves as a reminder to insurance companies that their duty extends beyond collecting premiums—they must also honor claims when accidents occur. Instead of boosting profits by unlawfully denying legitimate claims, insurers should focus on supporting their clients in times of need. Unfortunately, this case reflects a common practice rather than an isolated incident. It’s troubling, especially since these companies are reputable international financial institutions. Most claimants might hesitate to challenge them, fearing the significant costs and the market power these large corporations wield.

What is the Solution?

If you’re dealing with a dispute involving an insurance company or a traffic accident with personal injuries or death, the team at Advocate Markov is ready to help you, without any fee.

You can read about Advocate Markov’s notable victory against Kaufland Bulgaria, a major international hypermarket chain. The case involved issues of unfair competition and misuse of power over a weaker party.

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