Accessible and understandable contracts of compulsory insurance and disability in the production

Ministry of Finance of Azerbaijan has approved a new form and content of the agreement on compulsory insurance against disability resulting from occupational accidents and occupational diseases.

The form and content of the contract published on a single portal of legal acts of the Ministry of Justice. Innovation will make it easier and more convenient for users.

The law "On mandatory insurance of disability individuals from accidents and occupational diseases in the production" was approved in July 2010. In December 2010, the approval process of legal acts to the commencement of services under this type of insurance completed.

The Cabinet of Ministers in November 2010 approved the tariffs for compulsory insurance against disability resulting from accidents in the workplace. According to the decision of the Cabinet, all economic activities are divided into 14 levels of risk. Based on this level of risk, determined the size of the insurance rate for employees and workers in the enterprise, which ranges from 0.2% to 2% depending on the risk level of the enterprise.

According to the law the insurance rate is calculated to payroll at the company.

The law provides for three types of insurance payment: monthly, single and extra. - 17D-