The purpose of this Dictionary is to develop the understanding of the essence of insurance by setting forth and giving explanation of fundamental insurance terms and phrases. This Dictionary is a compilation of insurance terms and phrases from practice and theory. It covers all phases of insurance contract placement as well as the whole process of claim settlement with all the participants involved. It also illustrates the characteristics of different lines of insurance, various insurance exposures and risks, types of coverage provided by the insurance companies. It contains 750 terms and phrases in English with their equivalent in Bulgarian in all spheres of insurance and reinsurance as well as related terminology in the field of economy, risk management and law.
With its attempt to be comprehensive and touch upon various insurance matters, this Dictionary would be helpful to people working in the insurance industry and in companies with complex insurance needs. It would also be useful to students for their different projects in the field of insurance and risk management. The Insurance industry carries a great potential within the Bulgarian economy with the growing public needs and interest in the field. On the one hand more and more people start taking care of themselves through buying insurance. On the other hand the growth of Bulgarian companies, the rising interest of foreign investors and emergence of subsidiaries of multinational companies in the Bulgarian economy results in increase of their insurance needs. Thus insurance is gradually becoming an inseparable part of the Bulgarian economy.
Development of insurance industry makes it necessary for a greater number of people to understand, use freely and explain complex and specific terms and phrases in English and Bulgarian. More and more sources of insurance information that penetrate the Bulgarian economic life are in English. For this reason, the English-Bulgarian Dictionary of Fundamental Insurance Terms And Phrases is meant to contribute in satisfying the insurance information needs of the Bulgarian public.