On September 1, the company - members of Compulsory Insurance Bureau (ISB) paid 16.289.340 manat for compulsory insurance of civil liability of vehicle owners (CTP). According to the accumulating structure, it is by 5.3% less than in the period from January to August last year
Only in August, the payment of insurers in this segment was totaled 1,899,010 manat (minus 19.8%) to 1.483 insurance cases (minus 20.4%). Of these, the majority (in the amount of 1.665.200 AZN 1,372 insurance claims) is associated with damage to the motor vehicle, the remaining payments relating to damage to property and health, as well as the death in a car accident.
Services under the insurance on the new tariffs are provided from 16 December, 2011. The insurance sum under property damage is 5,000 manat, with damage to the health of one person – 5,000 manat, the total limit for one event – 50,000 manat.
Bureau of compulsory insurance was established in the framework of the law "On compulsory types of insurance". It includes 15 insurance companies, 11 of which have the right to provide services for insurance. --17D-
Economics
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Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
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The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
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Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
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In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
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