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Bonus-Malus System in Insurance

Author

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  • Tzvetelina Andreeva

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The article studies the mature and characteristics of the Bonus-Malus System (BMS) in the environment of today; the ways of applying the system, with the choice and arguments of an up-to-date option for our insurance market; also highlighted and discussed are its objectives, advantages, disadvantages, technicalities and considerations with reference to its modern social importance and necessity; the experience of a number of European countries is studied in a general context. Specific solutions for a real adaptation with a practical effect are researched, from the application of the system in insurance in general, and more particularly, in our motor insurance on the model of the mandatory Motor Third Party Liability insurance (MTPL). Ways of its application have been characterized, with the arguments of a proposal of a real variant.

Suggested Citation

  • Tzvetelina Andreeva, 2014. "Bonus-Malus System in Insurance," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 54-68, December.
    • Handle: RePEc:nwe:iisabg:y:2014:i:4:p:54-68
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    More about this item

    Keywords

    bonus-malus; BMS; insurance; MTPL;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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