site.btaInsurer Selected for Greece-Bulgaria Natural Gas Interconnector
The ICGB company, which operates the Greece-Bulgaria natural gas interconnector, selected DZI General Insurance as lead insurer for the interconnector during the time of its operation, the company's press office reported on Wednesday. The lead insurer was selected after an open procedure under Bulgaria's Public Procurement Act.
The risk will be reinsured with major companies on the international market, whose credit rating is at least "A-", according to Standard & Poor's or AM Best.
The general insurance premium on all types of insurance policies, including when there is an option to double the initial period of 12 months, is EUR 2,650,044.
The policy covers all risks of pecuniary damage, including technological accidents affecting machinery and equipment and interruptions of operation.
General civil liability insurance includes liability for products, liability for pollution and employer liability. Risks associated with terrorism, sabotage, strikes, rioting, civil unrest and malicious actions, including interruption of operation, are also covered. There is also insurance against third-party liability for terrorism.
The Greece-Bulgaria natural gas interconnector is linked to the Greek gas transmission system and the Trans Adriatic Pipeline in the area of Komotini as well as the Bulgarian gas transmission system in the area of Stara Zagora. The interconnector delivers natural gas from Azerbaijan to Bulgaria under a long-term agreement with Baku. These deliveries meet 27% of gas consumption in Bulgaria and are essential for achieving favourable gas prices.