Companies - members of the Compulsory Insurance Bureau (BCI) under compulsory real estate insurance collected 755,887 manat in February (minus 80% to February 2015). According to the report, this amount was collected due to the conclusion of 5,904 contracts (minus 56%).
The majority (64.01%) was signed on home insurance, 0.98% - on administrative buildings, and 35.01% - on other real estate, including commercial facilities.
This insurance applies to property insured against damage due to natural disasters, as well as explosions, fires, short circuits, breaking water mains and sewage systems. Social upheavals are not envisaged.
Maximum coverage (25,000 AZN) is provided for property in Baku, while in Gandja, Sumgayit and Nakhchivan the ceiling is at the level of 20 thousand, and in other localities it is 15 thousand manats at an annual insurance premium of 0.2% of the sum insured.
Recall, licenses for the provision of services in this segment of compulsory insurance belong to 13 members of BCI. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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