According to the Bureau of Compulsory Insurance, in 2013 16 800 insurance claims as a result of road accidents were recorded. These figures are 5.9 times higher than the data of the Chief State Traffic Police Department (2,846).
As Azerbaijan Insurers Association (AIA) told Turan, the reason stems from the fact that almost all insurance companies within the hull insurance pay compensation for each accident, and members of the Bureau also pay for the risks associated with health, damage to property and third party liability to third parties. The methodology of the insurers is more correct and the figures are more reliable, thy say in the AIA.
In addition, recent changes in the law "On insurance activity" allow participants in accidents with property damage of less than 1 000 manats (without harm to health) not to wait for the arrival of traffic police and the protocol of its employees. Such incidents in the past year were 58% (approximately 10,780) of the total number of accidents. - 17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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