Bureau of Mandatory Insurance activated in the Green Card

The Bureau of Compulsory Insurance will reinsure its obligations under the International Association of the National Bureau of Motor Insurance (Green Card).

As the head of the organization Elkhan Guliyev told reporters, the negotiations were conducted under the Insurance Forum in Baden Baden. According to him , reinsurance obligations are a requirement of the Board of Green Card, because of our negotiations for reinsurance obligations are carried out with more than 5 brokers and reinsurers.

The Head of State in July instructed the Cabinet to provide support to the Ministry of Finance to enter the country in Green Card.

At present, the system is in 46 countries. Azerbaijan started active work to join the system in 2012, was aimed at joining the Green Card in 1995 .

The Working Committee of the Council of Bureaux Green Card praised Azerbaijan as a potential participant of the system, in February 2013.

The decision on the admission of new members taken at a general meeting of the Council of the International Bureau of the Association of National Bureau of Automobile Insurance at the end of May each year. In Azerbaijan it can be taken in 2014. -17D-