Guarantee Fund

What Guarantee Fund does

The Guarantee Fund (Гаранционен фонд) is a Bulgarian state-managed statutory entity established under the Insurance Code and operating under the regulatory oversight of the Financial Supervision Commission (КФН). Its two principal functions are: (i) guaranteeing compensation rights for victims of road accidents involving uninsured, unidentified, or non-frontier-insured motor vehicles, and (ii) securing guaranteed claims of insured persons in cases of insurer insolvency, including life insurance receivables up to BGN 196,000. The Fund serves injured road-accident victims, policyholders, motor vehicle owners, and Bulgarian insurers offering compulsory Motor Third Party Liability (MTPL) and passenger accident insurance.

The Fund's core technology platform is the Unified Information System for Risk Assessment, Management and Control (UISRAM/EISOUKR), which connects the information systems of the Traffic Police and all MTPL insurers in real time, enabling electronic reporting and verification of compulsory motor insurance policies. It also maintains electronic registries of vehicle registration plates, MTPL contracts, Green Card certificates, frontier insurance, and accident insurance for public transport passengers. Public-facing digital services include MTPL validity checks (by plate, VIN, or sticker number), frontier insurance verification, a claims representatives directory across EEA states, a digital MTPL validity certification service (launched March 2025), and online payments for penalties and recourse obligations. The Fund is integrated with the Council of Bureaux and 46 national Green Card bureaus, supporting cross-border insurance verification and claims settlement.

The Fund's revenue model is statutory rather than commercial: it is financed through mandatory annual contributions collected from every insurer offering compulsory MTPL and passenger accident insurance in Bulgaria. As of 2021 and 2022, the per-insured-vehicle contribution was set at 10.50 BGN to the Fund for Uninsured Motor Vehicles plus 2.50 BGN to the Reserve Fund, totaling 13 BGN per vehicle, with an additional 0.15 BGN per passenger seat for accident insurance and a 1.10 BGN unit fee for MTPL stickers. Services to injured parties are provided free of charge, and contribution amounts are set annually by the Financial Supervision Commission. The Fund is governed by a Council comprising all contributing insurers, with an Executive Board led by the Chairman and Executive Director, and operates with a headcount of 11-50 employees based in Sofia.

Name

Guarantee Fund

Legal name

Guarantee Fund (Гаранционен фонд)

Website

https://guaranteefund.org

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

The Guarantee Fund (Гаранционен фонд) is a Bulgarian state-managed statutory entity that guarantees compensation to road-accident victims involving uninsured vehicles and protects policyholders against insurer insolvency, operating under Financial Supervision Commission oversight from Sofia.

Ownership category

akta.pro rank

Product category

Insurance Guarantee Services

NAICS

Other Insurance Funds (525190), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Surety Insurance (6351)

akta.pro primary industry

Surety & Fidelity Bonds (FSAJAMAJ)

akta.pro secondary industry

Guarantee, Insurance & Risk Mitigation Facilities (BPADACAK)

Keywords

• Insurance guarantee services
• Motor third party liability
• Insurer insolvency protection
• Uninsured vehicle compensation
• Insurance information registry

Headquarters

HQ city

Sofia

HQ country

Bulgaria

HQ region

Europe

Markets served

GTM type

B2B and B2C

Offering type

Services

Pricing tiers

Distribution channels4 records

Marketing channels4 records

Core offering

The Guarantee Fund is a Bulgarian state-managed statutory body that compensates road accident victims when at-fault vehicles are uninsured or unidentified, and protects insurance policyholders when their insurer becomes insolvent. It operates an Information Center maintaining electronic registries of Motor Third Party Liability (MTPL) policies, Green Card certificates, and frontier insurance, and runs online verification services for policy validity and cross-border claims processing.

Product overview

Guarantee Fund is a Bulgarian state fund operating as a platform offering multiple interconnected services centered on motor third party liability (MTPL) insurance and consumer protection. The core offerings include the Information Center with electronic registries for insurance policy verification, the Security Fund protecting consumers from insurer insolvency, and the Fund for Uninsured Motor Vehicles compensating victims of uninsured drivers. These are complemented by online verification services (MTPL Check, Frontier Insurance Check), claims settlement procedures, and digital services including online payments and validity certifications. The platform connects Traffic Police and insurer systems through the UISRMC system for real-time insurance data exchange.

Differentiator

Problem solved

Functional benefit

Products and services

• Security Fund (Обезпечителен фонд)
• Fund for Uninsured Motor Vehicles (Фонд за незастраховани МПС)
• Information Center
• Motor Third Party Liability (MTPL) Insurance Check
• Frontier Insurance Check
• Claims Representatives Directory
• Request for Reference
• Online Payments
• Digital MTPL Validity Certification
• Claims Settlement Services
• Interactive Road Accident Guide

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Fundul de Garantare a Asiguraților (Romania): Romanian insurance guarantee fund protecting policyholders against insurer insolvency across all insurance lines, including MTPL. Highly comparable given similar post-transition CEE regulatory frameworks and shared EU directive alignment.
• Verkehrsopferhilfe e.V. (Germany): German non-profit supporting victims of uninsured or unidentified drivers and handling traffic accident compensation. Comparable to the Bulgarian fund's uninsured vehicle compensation role and statutory positioning.
• Fonds de Garantie des Assurances Obligatoires (France): French guarantee fund compensating victims of uninsured drivers, hit-and-run accidents, and insurer insolvencies across all mandatory insurance lines. It mirrors the Bulgarian fund's dual Security Fund / Uninsured Motor Vehicle structure.
• Hrvatski ured za osiguranje (Croatia): Croatian insurance bureau operating the Green Card system nationally, handling guarantee schemes and uninsured motorist compensation. Directly comparable peer given small EU member state structure and similar statutory mandate.
• Motor Insurers' Bureau (UK): The UK statutory body that compensates victims of uninsured and untraced drivers and handles insolvent insurer claims. It is the most direct functional analog to the Bulgarian Guarantee Fund's mandate for motor third-party liability guarantee and information services.
• Greek Motor Insurance Guarantee Fund (Eπικουρικό Κεφάλαιο): Greek auxiliary fund (part of the Hellenic Motor Insurers' Bureau) guaranteeing claims for victims of uninsured or unidentified motorists and insolvent insurers. Closely matches the Bulgarian fund's scope and contribution-funded model.
• Polish Insurance Guarantee Fund (UFG): Polish insurance guarantee fund covering victims of uninsured drivers and handling insurer insolvency. Comparable given similar CEE market size, EU regulatory framework, and contribution-funded model.

Others

• Bulgarian Financial Supervision Commission (KFN): Bulgarian regulator that supervises the Guarantee Fund, sets contribution levels, and ultimately appoints it as liquidator for insolvent insurers. Not a peer in market terms but the most consequential institutional relationship and counterparty.

Regional players

• National Bureau of Bulgarian Motor Insurers (NBBAZ): Bulgarian Green Card bureau representing domestic insurers at the Council of Bureaux. Adjacent peer handling cross-border insurance coordination and sharing regulatory linkages with the Guarantee Fund.

Broad incumbents

• Council of Bureaux (CoB): International umbrella body coordinating the 46 national Green Card bureaus. The Guarantee Fund participates in CoB for cross-border claims, making CoB a strategic ecosystem counterpart for any regional expansion.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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M&A

Investments1 record

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Frequently asked questions about Guarantee Fund