May 31 (SeeNews) - Bulgaria's Commission for Protection of Competition said that it has fined local insurance broker SDI Group a total of 294,540 levs ($183,570/150,600 euro) over a false advertising campaign.
The company misled customers by advertising a home insurance policy at a discount price, which is derived from a "standard price" which has never been offered by SDI Group, the competition regulator said in its decision, published on Friday.
The fine is equal to 1% of the company's turnover in 2019.
The probe was launched following a complaint by local I&G Insurance Brokers.
(1 euro = 1.95583 levs)