In November 2013 the insurance companies that are members of the Bureau of Compulsory Insurance concluded 80,795 contracts of insurance of civil liability of vehicle owners to third parties (CTP). This is 9.2% more than in December 1 last year - the website of the Bureau.
Of the total number of contracts 19,200 were signed by transit vehicles registered abroad with valid agreements from 1 month to 1 year.
Total members of the Bureau in March got more than 6.3 million manat for insurance (+4.5 % per year).
From January to December, the Bureau concluded compulsory insurance in the aggregate 856,300 contracts worth 65.4 million manat. In November, the average fee for CTP was 78.6 manats. - 17D-
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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