The Bureau of Compulsory Insurance (BCI) has paid compensation in the amount of three thousand manats to a family for an injury from a traffic accident that occurred on January 3 this year.
According to a press release, the compensation was paid to the victims on May 8 of this year, non-cash (by mail).
As previously reported, BCI last year paid 24 compensations totaling AZN 54,391 to victims and families of those killed in road accidents.
BCI was established on the law " On mandatory types of insurance." The Bureau members are currently 15 insurance companies operating in Azerbaijan.
Its main feature is compensatory payments to certain financial management fund, which will be produced by these compensations.
Resources the Bureau are generated from entrance fees of insurers - members of the ISB, the security deposit for each type of compulsory insurance and 5% of the total size of the monthly premiums for compulsory insurance.
The membership fee for the insurance companies who want to become founders and start the Bureau is 200 000 manats. - 17D-
Economics
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