MEMORANDUM FOR COOPERATION BETWEEN THE NATIONAL VINE AND WINE CHAMBER AND BULSTRAD VIENNA INSURANCE GROUP
On 14.10.2014 a memorandum for cooperation between the National Vine and Wine Chamber and BULSTRAD VIENNA INSURANCE GROUP was signed by the Chairman of the Chamber, Mr. Radoslav Radev, and the Chairman of the Management Board and CEO of the insurance company, Mr. Rumen Yanchev. The need for cooperation arises due to the growing number of adverse weather events and their negative impact on the vine and wine sector in Bulgaria, and the fact that insurance offers the only preventive measure for managing the consequences of the weather. The memorandum aims at adoption of mutually beneficial arrangements and actions for overcoming the mistrust between the insurers, their agents and the farmers. The two parties to the memorandum agreed on a need for greater understanding of and attention given to the subject of agricultural insurance. BULSTRAD VIENNA INSURANCE GROUP made a commitment to assist the chamber and its members with free consultations and information campaigns to improve the general awareness of the features of this insurance line. According to the agreement, the insurance company will offer to the members of the chamber a customized insurance product for grape and wine producers. Under the terms of the product, these producers can obtain complex insurance at preferential prices, with bonuses and discounts, which covers the entire process of wine production from the growing of vines and processing of grapes to the final product and its placement on the market.