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  The Role of Democracy in Reaching Public Consolidation

  In this article, we analyzed in historical aspects of the Bulgarian authors related to the formation of the values of democracy. A logical connection with some of them is the analyzed leading goals and principles in the Preamble of the 1991 Constitution. They form the image of constitutional democracy. Based on modern theoretical statements and ... In this article, we analyzed in historical aspects of the Bulgarian authors related to the formation of the values of democracy. A logical connection with some of them is the analyzed leading goals and principles in the Preamble of the 1991 Constitution. They form the image of constitutional democracy. Based on modern theoretical statements and political practices, the conviction is imposed that, guided by its principles, the political subjects will be able to achieve agreement and consolidation necessary to bring sustainability to the development of society.

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  Characteristics of the Business Environment in the Context of Industry 4.0

  Today’s business organisations operate in an extremely complex and rapidly changing business environment. Among the reasons for this dynamics are rapid technological progress, business globalization processes, changes in consumer requirements, etc. The fourth industrial revolution and the massive application of the technologies associated with it ... Today’s business organisations operate in an extremely complex and rapidly changing business environment. Among the reasons for this dynamics are rapid technological progress, business globalization processes, changes in consumer requirements, etc. The fourth industrial revolution and the massive application of the technologies associated with it in all aspects of our lives, in combination with the COVID-19 pandemic, have significantly strengthened all these processes, changing important factors of the surrounding business environment and thus posing new requirements and challenges for companies. In this regard, this article examines the main groups of macro factors of the business organizations' environment, analyzes some changes in them and some new requirements caused by Industry 4.0, that business organizations should take into account in the process of strategic business planning.

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  Applying the "Insurance Maximum" in Determining the Insurer's Retention. An Example from the Bulgarian Property Insurance Market

  Reinsurance is a way for insurance companies to reduce fluctuations in their payments and to improve their financial stability. One of the problems that the risk theory in relation to reinsurance has to solve is that of the insurance maximum, i.e. the largest amount of sum insured up to which an insurance company can accept liability without ... Reinsurance is a way for insurance companies to reduce fluctuations in their payments and to improve their financial stability. One of the problems that the risk theory in relation to reinsurance has to solve is that of the insurance maximum, i.e. the largest amount of sum insured up to which an insurance company can accept liability without worsening its financial sustainability. Through the use of data on the activity of insurers in Bulgaria, the article calculates the "insurance maximum" for individual types of property insurance. Thanks to the obtained results, it becomes possible to make a quick decision regarding the "largest amount" of the sum insured that an insurance company can take without increasing the relative average risk.