Payments to victims and families of those killed in road accidents by the Compulsory Insurance Office by 1 October amounted to 181.38 thousand manat, which is more than three times more than the outcome in the entire 2013 (54.39 thousand manat).
According to the report by the Office, the largest number and the amount of paid compensation occurred in the third quarter - 108.12 thousand manat.
The Office accumulates funds for compensation to citizens who are not insured in any of the insurance companies. Its financial resources are generated from the entry fee, the security deposit for each type of compulsory insurance and 5% of the total premiums for compulsory insurance transferred by the companies - participants of the Office.
The membership fee for insurers is 200 thousand manat. For each type of compulsory insurance there is a separate deposit. A single deposit on compulsory insurance of liability of owners of real estate is 100 thousand manat, and that for the compulsory insurance of civil liability of vehicle owners (CTP) and passengers is 200 thousand manat. --17D-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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