Each of the 11 insurers licensed to compulsory civil liability insurance of car owners to third parties (CTP) demonstrates different approaches and practices of different rates when working with clients.
According to the Director of Compulsory Insurance Bureau Elkhan Guliyev (ISB) at the V Azerbaijan International Insurance Forum, to avoid ambiguity and risks, a unified clearing system is being developed to process requirements for reimbursements under CTP. The fact is that this segment is leading in the market and the level of premiums for the year it reaches 14% of total revenues.
The advantages of centralized clearing relates single document among all companies, as well as recourse to electronic form.
In addition, the insured citizens will be able to receive appropriate SMS notifications, and track real-time status of introduced requirements for insurance payments.
ISB has accumulated dues and deposit funds of 15 insurance companies, 11 of which are licensed to sell insurance policies CTP. - 17D-
Economics
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The weaknesses of strategic planning in the Azerbaijani land transport sector were revealed during a briefing on improving legislation, which was attended by representatives of the Azerbaijan Land Transport Agency (AYNA) and the Ministry of Digital Development and Transport.
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The Cabinet of Ministers of the Republic of Azerbaijan has made changes to the existing provisions regarding the approval of construction documentation and the service fees for construction. The amendments are guided by Article 119 of the Constitution of Azerbaijan and are aimed at simplifying processes related to construction permits and operations.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new procedure for the recruitment of medical personnel to medical institutions included in the state healthcare system. The decision, which comes into force on January 1, 2025, aims to enhance the implementation of compulsory health insurance in the country.
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The Organization of Turkic States (OTS) convened a pivotal meeting in Guba, recently named the agricultural capital, to introduce the "OTS Made" brand for agricultural products. Representatives from the Ministries of Agriculture of Azerbaijan, Turkey, Uzbekistan, Kazakhstan, and the Turkish Republic of Northern Cyprus, along with experts from relevant departments, participated in the event.
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