There is a growing share of compulsory insurance of disability of individuals from accidents and occupational diseases.
The press secretary of the Association of Insurers of Azerbaijan (AIA) Vafa Rustamova said by November 1 premium for this type amounted to 28 million manats (+4.8% from the same period last year). Almost the same level, but downward (minus 5%) was achieved in payments - 1.95 million manats. The relationship between the premiums and payments is 6.96% and the policy of exclusive accumulation is not allowed in insurance.
Recall that in the framework of this type of insurance services are provided by three members of the Bureau of Compulsory Insurance: Pasha Hayat Sigorta, Ateshgah Hayat Sigorta and Qala Hayat Sigorta. In total life insurance market for this type had 28.4% and 5.5% of premium payments.
The law "On compulsory insurance of disability of individuals from accidents and occupational diseases" is involved with the December 16, 2010, after the government approved rates for this type of insurance. --17D-
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