BAKU/19.02.14/Turan : Specialized life insurance company Pasha Hayat Sigorta paid 98,009 manat into the death of two producers.
As stated in the press release of the financial structure , the money transferred to the accounts of families killed in the framework of compulsory insurance and disability of individuals from accidents and occupational diseases .
"Insured events occurred at two companies. As a result, were killed two employees of these enterprises. According to insurance contracts , Pasha Hayat Sigorta paid to the bereaved families, respectively 66,504 and 31,505 manat," the report says .
Unfortunately, the company only provides detailed data on payments to victims of road accidents , the names of businesses and industrial sites are not mentioned. According to informed sources , the factories where the accidents occurred , refer to the refining industry .
Currently there are no data from the previous year . In 2012, the oil sector Oil Workers Rights Protection Committee recorded 59 cases of an accident as a result of violation of safety rules . The number of dead in this area - 13 people. State Oil Company shall not disclose many details , including on occupational injuries .
Recall the law " On mandatory insurance of disability individuals from accidents and occupational diseases " approved in July 2010. Entered into force on 16 December 2010 after the approval of legal acts to the commencement of services under this type of insurance.
The insurance company of Pasha Hayat Sigorta got the license for insurance activity on February 14, 2011. The sole shareholder of the company is Pasha Holding.
The authorized capital is 25.2 million manat.
In Azerbaijan, there are three insurance companies in the life insurance sector without offices in the regions. - 17D-
Economics
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review