The Bureau of Compulsory Insurance (BCI) informs that in January-June (http://isb.az/2016-ci-ilin-ilk-alti-ayi-erzinde-avsmmis-uzre-11-6-milyon-manat-mebleginde-sigorta-odenisi-heyata-kecirilmisdir) 13 of its members concluded 527,894 contracts (+ 11% over the same period last year) in the mandatory civil liability of owners of vehicles (CTP), receiving 42.3 million AZN (+ 16%) in the form of bonuses.
Payments by the insurers amounted to 11 million 577.85 thousand AZN (minus 3%).
CTP contracts on new terms and new tariffs are valid from 16 December 2011. According to them, the base rate by a factor of 1 is 50 AZN (valid for vehicles with an engine capacity of 1500 cubic cm). This includes motorcycles and agricultural machinery.
The maximum rate - 5 for heavy vehicles with an engine capacity of more than 5 thousand cubic cm, and their owners pay 250 AZN a year.
The sum covered for proven damages is 5,000 AZN, with damage to property and health of each passenger and a pedestrian, at a total limit of payments coming to 55,000 AZN.
Thirteen insurers collected 76.37 million AZN on CTP last year. --17D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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