Ateshgah Hayat Sigorta regularly pays in the life insurance

Endowment insurance in January-July amounted to 18.85 million or 46.6% of total life insurance premiums (life insurance). It is noteworthy that last year the awards were at 6.8 million manat.

This is a real competition to insurance against diseases and accidents at work in the decline in comparison with the beginning of the year. So, for the first quarter of the year this form collected 57.8%, and up to July 1 - 47.79%.

For 7 months, according to the State Insurance Supervision Service, under the insurance of workers against accidents and diseases at work there was collected 18.99 million manat. All in all, life insurance collected 40,670,100 manats.

In Azerbaijan, while there are three companies specializing in life insurance and have the legal right to provide services on compulsory insurance and disability of individuals from accidents and occupational diseases.

As of August 1 the leader in the segment - Pasha Hayat Sigorta collected 17,985,840 manats, Ateshgah Hayat Sigorta - 16,257,990 manats, and Qala Hayat Sigorta - 6,426,260 manats. Benefit leader Ateshgah Hayat Sigorta collected 1,784,890 manats, which is at least three times more than the competition.

According to the Ministry of Taxes, the country has almost half a million entrepreneurs (potential employers), including individuals. Of these, about one fifth of the population provides real-time. In this case, all of the natural monopolies and business leaders under the supervision of the inspection of the Ministry of Labor and Social Welfare have already signed contracts with insurance companies.

The law "On mandatory insurance of disability of individuals from accidents and occupational diseases" was approved in July 2010. In December of the same year completed the process of approval regulations for the start of services on this type of insurance.

The Cabinet of Ministers in November 2010 approved the tariffs for compulsory insurance against disability resulting from occupational accidents. According to his decree, all economic activities are divided into 14 levels of risk.

Based on this level of risk, determined the amount of the insurance rate for employees and workers at the plant, which is 0.2% to 2% depending on the risk level of the enterprise. In the state budget for the security of persons working in the government and public enterprises and organizations, this type of insurance, since 2011, provides for the allocation of 10.03 million manat.

By law, the insurance rate is calculated from the capacity of the payroll of the enterprise. The law provides for three types of insurance payments: monthly, one-time and extra. - 17D-