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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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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