MORAL DAMAGES AND THE ACTIVITY OF INSURANCE COMPANIES

Hristo Draganov and Georgi Draganov
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Hristo Draganov: UNWE
Georgi Draganov: D. A. Tsenov Academy of Economics

Business Management, 2019, issue 1 Year 2019, 56-66

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.

Keywords: moral damages; insurance compensation; liability limit; Bonus-Malus system (search for similar items in EconPapers)
JEL-codes: G22 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:dat:bmngmt:y:2019:i:1:p:56-66

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