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Moral Damages And The Activity Of Insurance Companies

Author

Listed:
  • Hristo Draganov

    (UNWE)

  • Georgi Draganov

    (D. A. Tsenov Academy of Economics)

Abstract

The article addresses moral damages inflicted as a result of road accidents, in terms of motor third-party liability insurance. We explain the nature of moral damages and analyse their relevance to the activity of insurance carriers. Special attention is paid to the major factors that cause moral damages. We also review the main stages in ascertaining inflicted moral damages and give some recommendations about the process. The underlying idea of this article is that an Ordinance on the Ascertainment of Moral Damages must be designed. In conclusion, a methodology for determining liability limits is proposed.

Suggested Citation

  • Hristo Draganov & Georgi Draganov, 2019. "Moral Damages And The Activity Of Insurance Companies," Business Management, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 1 Year 20, pages 56-66.
    • Handle: RePEc:dat:bmngmt:y:2019:i:1:p:56-66
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    File URL: http://hdl.handle.net/10610/4053
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    More about this item

    Keywords

    moral damages; insurance compensation; liability limit; Bonus-Malus system;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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