国际英语资讯:Bulgaria, Cyprus at loggerheads over failure of insurance company
<p><span word="NICOSIA">NICOSIA</span>, <span word="Aug">Aug</span>. 23-- <span word="EU">EU</span> <span word="member">member</span>-<span word="states">states</span> <span word="Bulgaria">Bulgaria</span> <span word="and">and</span> <span word="Cyprus">Cyprus</span> <span word="are">are</span> <span word="at">at</span> <span word="loggerheads">loggerheads</span> <span word="over">over</span> <span word="the">the</span> <span word="failure">failure</span> <span word="of">of</span> <span word="an">an</span> <span word="insurance">insurance</span> <span word="company">company</span> <span word="based">based</span> <span word="on">on</span> <span word="the">the</span> <span word="eastern">eastern</span> <span word="Mediterranean">Mediterranean</span> <span word="island">island</span> <span word="and">and</span> <span word="on">on</span> <span word="who">who</span> <span word="is">is</span> <span word="to">to</span> <span word="foot">foot</span> <span word="the">the</span> <span word="bill">bill</span> <span word="for">for</span> <span word="insurance">insurance</span> <span word="claims">claims</span> <span word="totaling">totaling</span> 43.5 <span word="million">million</span> <span word="euros">euros</span>, <span word="Cypriot">Cypriot</span> <span word="media">media</span> <span word="reported">reported</span> <span word="on">on</span> <span word="Thursday">Thursday</span>.</p><p><span word="Olympic">Olympic</span> <span word="Insurance">Insurance</span>, <span word="which">which</span> <span word="was">was</span> <span word="put">put</span> <span word="in">in</span> <span word="liquidation">liquidation</span> <span word="both">both</span> <span word="in">in</span> <span word="Bulgaria">Bulgaria</span> <span word="and">and</span> <span word="in">in</span> <span word="Cyprus">Cyprus</span>, <span word="is">is</span> <span word="facing">facing</span> 9,500 <span word="claims">claims</span> <span word="in">in</span> <span word="Bulgaria">Bulgaria</span> <span word="amounting">amounting</span> <span word="to">to</span> 28.5 <span word="million">million</span> <span word="euros">euros</span> <span word="and">and</span> 2,500 <span word="claims">claims</span> <span word="in">in</span> <span word="Cyprus">Cyprus</span> <span word="amounting">amounting</span> <span word="to">to</span> 15 <span word="million">million</span> <span word="euros">euros</span>.</p><p><span word="Bulgarian">Bulgarian</span> <span word="authorities">authorities</span> <span word="have">have</span> <span word="already">already</span> <span word="asked">asked</span> <span word="Cyprus">Cyprus</span> <span word="to">to</span> <span word="foot">foot</span> <span word="the">the</span> <span word="bill">bill</span> <span word="for">for</span> <span word="the">the</span> <span word="money">money</span> <span word="Olympic">Olympic</span> <span word="owes">owes</span> <span word="to">to</span> <span word="its">its</span> <span word="citizens">citizens</span>.</p><p><span word="Cypriot">Cypriot</span> <span word="Financial">Financial</span> <span word="Ombudsman">Ombudsman</span> <span word="Pavlos">Pavlos</span> <span word="Ioannou">Ioannou</span> <span word="said">said</span> <span word="on">on</span> <span word="Thursday">Thursday</span> <span word="that">that</span> <span word="he">he</span> <span word="received">received</span> <span word="a">a</span> <span word="letter">letter</span> <span word="from">from</span> <span word="a">a</span> <span word="Bulgarian">Bulgarian</span> <span word="official">official</span> <span word="requesting">requesting</span> <span word="Cyprus">Cyprus</span> <span word="to">to</span> <span word="cover">cover</span> <span word="the">the</span> <span word="damages">damages</span> <span word="to">to</span> <span word="Bulgarian">Bulgarian</span> <span word="claimants">claimants</span>. <span word="He">He</span> <span word="said">said</span> <span word="he">he</span> <span word="is">is</span> <span word="considering">considering</span> <span word="the">the</span> <span word="request">request</span> <span word="taking">taking</span> <span word="into">into</span> <span word="consideration">consideration</span> <span word="Cypriot">Cypriot</span> <span word="legislation">legislation</span>.</p><p><span word="Olympic">Olympic</span> <span word="Insurance">Insurance</span> <span word="was">was</span> <span word="based">based</span> <span word="in">in</span> <span word="Cyprus">Cyprus</span> <span word="but">but</span> <span word="most">most</span> <span word="of">of</span> <span word="its">its</span> <span word="business">business</span> <span word="was">was</span> <span word="done">done</span> <span word="in">in</span> <span word="Bulgaria">Bulgaria</span>, <span word="where">where</span> <span word="it">it</span> <span word="had">had</span> 9 <span word="percent">percent</span> <span word="of">of</span> <span word="the">the</span> <span word="market">market</span> <span word="with">with</span> 200,000 <span word="insured">insured</span> <span word="clients">clients</span> <span word="against">against</span> <span word="damage">damage</span> <span word="to">to</span> <span word="third">third</span> <span word="parties">parties</span>. <span word="Both">Both</span> <span word="they">they</span> <span word="and">and</span> <span word="the">the</span> <span word="Cypriot">Cypriot</span> <span word="clients">clients</span> <span word="of">of</span> <span word="the">the</span> <span word="company">company</span> <span word="had">had</span> <span word="to">to</span> <span word="buy">buy</span> <span word="new">new</span> <span word="road">road</span> <span word="insurance">insurance</span>.</p><p><span word="English">English</span> <span word="language">language</span> <span word="newspaper">newspaper</span> <span word="Cyprus">Cyprus</span> <span word="mail">mail</span> <span word="published">published</span> <span word="documents">documents</span> <span word="which">which</span> <span word="it">it</span> <span word="said">said</span> <span word="proved">proved</span> <span word="that">that</span> <span word="the">the</span> <span word="failure">failure</span> <span word="of">of</span> <span word="the">the</span> <span word="company">company</span> <span word="could">could</span> <span word="have">have</span> <span word="been">been</span> <span word="avoided">avoided</span> <span word="had">had</span> <span word="the">the</span> <span word="Cypriot">Cypriot</span> <span word="supervisor">supervisor</span> <span word="of">of</span> <span word="insurance">insurance</span> <span word="companies">companies</span> <span word="was">was</span> <span word="more">more</span> <span word="diligent">diligent</span> <span word="and">and</span> <span word="spotted">spotted</span> <span word="warnings">warnings</span> <span word="about">about</span> <span word="its">its</span> <span word="owners">owners</span> <span word="shadowy">shadowy</span> <span word="activities">activities</span>.</p><p><span word="It">It</span> <span word="said">said</span> <span word="that">that</span> <span word="the">the</span> <span word="owner">owner</span> <span word="of">of</span> <span word="Olympic">Olympic</span>'<span word="s">s</span> <span word="Luxembourg">Luxembourg</span> <span word="based">based</span> <span word="parent">parent</span> <span word="company">company</span>, <span word="a">a</span> <span word="Spanish">Spanish</span> <span word="citizen">citizen</span>, <span word="was">was</span> <span word="named">named</span> <span word="in">in</span> <span word="a">a</span> <span word="June">June</span> 2017 <span word="statement">statement</span> <span word="issued">issued</span> <span word="by">by</span> <span word="Spain">Spain</span>'<span word="s">s</span> <span word="Comision">Comision</span> <span word="Nacional">Nacional</span> <span word="del">del</span> <span word="Mercado">Mercado</span> <span word="de">de</span> <span word="Valores">Valores</span> (<span word="CNMV">CNMV</span>), <span word="which">which</span> <span word="supervises">supervises</span> <span word="the">the</span> <span word="country">country</span>'<span word="s">s</span> <span word="financial">financial</span> <span word="markets">markets</span>.</p>
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