Bureau of Compulsory Insurance paid third compensation on accidents

Bureau of Compulsory Insurance payments a third in its short backdrop compensation related to damage to the health of the citizen as a result of the accident.

As noted in today's press release from the Bureau, the amount of non-cash compensation (paid February 28) was 1.5 thousand manats.

"Compensation was made 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 formed from several sources. First, it will be an entrance fee, which insurers make to start the Bureau. 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 who want to become founders and join the Bureau, is 200 000 manats.

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

The 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-