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 has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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