Bureau of Compulsory Insurance paid for the death of a pedestrian

Bureau of Compulsory Insurance (ISB) has paid compensation for the fourth related to damage to the health of the citizen as a result of the accident. This time, the money allocated for the death in a car accident of a family member of one of the citizens of Azerbaijan, which took place in the village Zabrat Sabunchu before New Year.

As noted in today's press release from the Bureau, the amount of non-cash compensation (paid March 29) was 5 thousand manats. "Compensation for non-cash realized (by mail)," the report says.

Above with reference to the executive director of the Bureau of Elkhan Guliyev informed, yet a number of cases for which compensation will be paid, currently under investigation, and the ISB waiting for final documents for payment. These cases are mostly related to damage to health.

Bureau of compulsory insurance was created in the framework of the law "On compulsory types of insurance." Bureau members are currently 11 insurance companies operating in Azerbaijan.

The main function of the Bureau is the implementation of compensation, management of certain financial fund, which will be made through the payment of compensation.

The financial resources of the Bureau are formed from several sources. First, it is an entrance fee, which is made by the insurers. Second, insurers make security deposit for each type of compulsory insurance, which they want to do. Third, 5% of the total premiums for compulsory, insurance companies should be transferred monthly to the Bureau.

The membership fee for the insurance companies that want to become founders and join the Bureau is 200 000 manats.

If the insurance company is interested in providing services for several types of compulsory insurance, for each type, it makes a separate deposit.

Amount of the single deposit to the Bureau of the compulsory insurance of real estate is 100 000 manats; compulsory liability insurance of owners of real estate - 100 000 AZN, compulsory third party liability insurance of vehicle owners (CTP) - 200 000 AZN, and compulsory insurance of passengers - 200 000 manats. - 17D-


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