Bulstrad VIG Winning Tender Bid Challenged by Bulgaria’s OZK Insurance

Bulstrad VIG Winning Tender Bid Challenged by Bulgaria’s OZK Insurance

Bulgaria’s antitrust regulator granted the appeal of local OZK Insurance against the ranking of the tender bids for providing insurance to Sofia's municipal bus operator and returned the winner’s bid of Bulstrad Vienna Insurance Group (VIG) for further clarification.The bus operator, Stolichen Avtotransport EAD, should re-evaluate its decision and pay OZK Insurance all the costs in the case, the Commission for Protection of Competition (CPC) said on Monday.Stolichen Avtotransport shortlisted in October three candidates for providing insurance services to its fleet - Bulstrad VIG, directly and indirectly held by Vienna Insurance Group, locally-owned OZK Insurance and Bul Ins. Considering the price and the quality of the service the highest score was awarded to Bulstrad VIG.The CPC agreed with OZK Insurance’s claim that the winner did not provide a detailed explanation of the manner in which the proposed prices are formed, the risk accounting and the ability of the company to fulfil all obligations related to the contract.Lev Ins also challenged its disqualification from the tender, but its appeal was dismissed.

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