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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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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