Today, Baku hosted the first national forum of insurance agents.
As said during the speech the Executive Director of the Office of Compulsory Insurance Elkhan Guliyev, the bonus-malus system, the statutory AR "On mandatory insurance", will be implemented from January 15, 2013. New product is designed for drivers under the CTP - liability insurance of vehicle owners to third parties in case of accidents.
Total classification shall be 17 degrees or risk of law-abiding drivers who for the year will affect insurance premiums next year. "Correct" drivers will pay less, and "wrong" ones - more.
Guliyev said to enter data into the information system of the Bureau will be easy because it is integrated into the same resource of traffic police and the Ministry of Taxes.
Bonus - malus (Latin for "good - bad") is not punitive but incentive system, said Executive Director of the Office.
In the framework of the law "On compulsory insurance" CTP introduced a new tariff system. In particular, the base rate is set at 50 manat for cars engine displacement up to 1,500 cc. For engines they use ratios from 1.5 to 5. A vehicle engine capacity of more than 5 thousand cc receives the coefficient 5, i.e. the insurance rate is 250 manat.
For buses and vans involved in the transport of passengers, the number of seats from 9 to 16, the ratio 3 will be applied to the basic rate and for those with 16 seats - the coefficient 4.
For trucks the factor will be from 3 to 5, depending on the maximum load capacity.
For motorcycles, tractors and other agricultural machinery the factor is minimal.
In addition, when determining the amount of insurance premium for CTP also provides for a bonus - malus system.
According to the law, the CTP insurance amount for damage to property is 5,000 AZN, the sum insured for damage caused to health, one person is 5,000 AZN and the overall limit per one insured event - 50,000 manats. Thus, the maximum amount of coverage for the CTP can reach 55 thousand manats.
As previously reported, in Azerbaijan since December 16, 2011, the sale of CTP insurance policies has been on the new tariffs. - 17D-
Economics
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