Adopted Amendments to the Law "On Mandatory Insurance"

At today's plenary session the Milli Majlis amended the law "On mandatory insurance."

According to the chairman of the Committee on Economic Policy Ziyad Samadzadeh, regulation of the insurance market in recent years involves binding with indigenous species and improvement of the legislation. So, today is the fifth largest country in the CIS in property insurance (keeping up with Russia, Ukraine, Belarus and Kazakhstan).

According to the representative of the Ministry of Finance (Deputy Minister) Azer Bayramov, the law "On mandatory types of insurance" needs to be supplemented. Accidents at work should not be isolated, and combined into a single law to accumulation of Finance Bureau of compulsory insurance. In addition, he expressed the feasibility of connecting to the network information office is not only 12 of its members, but also the three life insurance companies to further expansion. "The system has a place for all local insurers, and if they are not ready to use it, that's their problem," he said.

One of the benefits of making the changes will be that in the case of calamities and diseases at work will be more advanced position refunds after the fact. Today the situation is such that in January-April this year for compulsory insurance against accidents and disease on harvested 12.46 million, offset by 557.04 thousand manats. The difference for the "social" insurance more than palpable and indicates commercialization segment. - 17D-