Decreased Activity of the Bureau of Compulsory Insurance

Local insurance companies - members of the Bureau of compulsory insurance in June in the framework of agreements on compulsory insurance of civil liability of motor vehicle owners (CTP) received total bonuses of $ 5.2 mln (down 7% compared to June of last year).

As noted in the report Bureau (http://isb.az), just for this position made 68.7 thousand insurance contracts (minus 5%). Of these, 21.2 thousand are transit contracts (insurance for 1 month overseas transport, passing through Azerbaijan).

The average size of the premium under the same agreement was 73.7 manat.

For the 6 months 439.2 thousand contracts were concluded by CTP in the amount of 32.4 million manat.

Bureau members at the moment are 11 companies: "Azers?gorta", AXA MBASK, "Ateshgah", "Xalq S?gorta", "Standard Insurance", "Pasha S?gorta", "AzS?gorta", "Meqa S?gorta", "Ata S?gorta", " Ipek Yolu Sigorta "e" Azerbaycan Senaye Sigorta ". The company "Alfa S?gorta" deprived of its license the Ministry of Finance for alleged violation of terms of the preparation and submission of documentation.

Compulsory Insurance Bureau was established in the implementation of the law "On mandatory types of insurance. Regarding CTP the law provided a maximum of proven European average payout for damage to the health and life of one accident case as 50,000 manats (with four passengers and a driver), damages of one individual - 5,000 and AZN damage of a car too is compensated at the rate of five thousand manats.

By law, cases of non-payment of CTP insurance are not provided. Passenger or pedestrian is injured in action even drunk, escaped from the scene or has committed an intentional accident the driver, and the driver for driving without a license (if he was the owner of the vehicle) is entitled to receive compensation. Another thing is that entities responsible for a traffic accident shall be liable for the commission of an unlawful act.

The basic cost of auto insurance at the rate of 1.5 million cubic centimeters (on the cases CTP) is 50 manats. With the increasing volume of the engine there is used a factor of 1.5 (up to 5 thousand centimeters cubed) and 5 (5 or more thousand centimeters cubed).

Increases the base price is also an increase in passenger transport and car dealership tonnage trucks. However, the increase in the price of "large-caliber" bus until the price increases resulted fare passengers. - 17D-