In the insurance reporting on Form 11 by the Ministry of Finance for the past year there are some unclaimed items. In the life insurance segment premiums are not collected on insurance annuity (additional charges to the salary or pension) and disability insurance.
Mortgage insurance, and insurance of real estate from falling market prices (property insurance segment ) is also not interested for local insurers.
The segment of compulsory insurance also has gaps - health workers, government officials and the diplomatic corps are not insured upon AIDS.
According to one member of the State Insurance Supervision Service (we do not call him because of the ban imposed by the Finance Ministry), the mentioned types of voluntary insurance are not popular due to the underdevelopment of mechanisms and because of the high risk associated with low profitability. In addition, potential purchasers of the benefits do not show initiative, and the insurer is not interested in these positions.
Beginning this year, the diplomatic corps will be insured on a mandatory basis, and the prospects of two other positions are considered, he said. - 17D-
Economics
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Azerbaijan’s rice imports have surged as domestic production struggles to meet growing demand, underscoring the country’s reliance on foreign suppliers. Despite government initiatives to boost output, local production remains stagnant, with only 10,000 tons expected in the 2024-2025 season, while imports reached 55,961 tons between January and October 2024.
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Azerbaijan and Pakistan have signaled a growing commitment to deepen energy cooperation, with a focus on renewable energy initiatives, as Azerbaijani Energy Minister Parviz Shahbazov hosted a delegation led by Pakistani Federal Minister Abdul Alim Khan in Baku on January 30.
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Oil from Kazakhstan's largest field, Kashagan, has begun flowing into the Baku-Tbilisi-Ceyhan (BTC) pipeline. According to information from SOCAR, the first batch of this oil was received at the Sangachal terminal on January 27 and will be transported via BTC to the port of Ceyhan.
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Azerbaijan is accelerating the implementation of its socio-economic development strategy, focusing on digital transformation and strengthening cybersecurity. The government is allocating resources to human capital development, prioritizing the training of cybersecurity professionals, said Farid Osmanov, Chairman of the Board of the Innovation and Digital Development Agency, on January 30 during the fourth “Graduation Day” of the Azerbaijan Cybersecurity Center (AKM).
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