Members of BAIB must be insurance brokers who are registered within the EU member states and are either licensed by the Financial Supervision Commission (FSC) or notified the FSC of their intention to provide insurance services on the territory of the Republic of Bulgaria under the terms and conditions of the right of establishment or of the freedom to provide services.
The new members of BAIB are accepted / approved with a resolution of the Board of Directors (BD) of the Association.
The applicants must submit in the office of BAIB the following documents:
- Filled in Membership Form (Doc.1)
- Recommendation from at least one current member of BAIB (free form)
- A certificated copy of the insurance broker’s license issued by the FSC or a document certifying the notification of the broker to work on the territory of Republic of Bulgaria under the terms and conditions of the right of establishment or of the freedom to provide services.
- A certificated copy for an audited financial statements t for the last financial period.
BAIB’s BD reviews the candidate’s application within 30 days since the submission date and takes the decision for granting membership status. The BD on its one discretion might schedule an interview with the representative of the applicant. To become a full term BAIB member the applicant must transfer the annual membership fee in accordance to the terms and conditions stipulated with a resolution of the BD. The applicant must also sign a statement of compliance with the Articles of Association of BAIB and other current regulations of the Association. After filling in the above mentioned conditions the applicant will receive a BAIB’s membership certificate.