By April 1, Members of Compulsory Insurance Bureau Collected AZN 20.1 Million under CTP Insurance
In the first quarter of 2016, the Compulsory Insurance Bureau (CIB) within the framework of the civil liability of vehicle owners (CTP) collected premiums of AZN 20.1 million (+ 31% as of 1 April of the previous year).
According to the official data from CIB, the result was obtained by the implementation of 240,176 insurance policies (+ 21%).
Most of the contracts was concluded in March - 109,842 with premiums of AZN 9.5 million, and the share of transit vehicles registered abroad was at the level of 11,000...
New insurance policies under CTP have been valid from 16 December 2011, with the base rate of 50 manats - for cars, the engine capacity of not more than 1.5 thousand cubic cm. The maximum tariff of 5 is provided for transport with an engine capacity of 5 thousand or more cubic cm (AZN 250 per year).
Payment of the lump sum insured at the damage to property, as well as a human health under the law is 5,000 manats with a total limit of 50,000 manats.
Recall, according to the State Insurance Supervision Service at the Ministry of Finance, last year, CIB collected AZN 76.37 million within CTP. --17D-
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