In the first nine months of 2016 charges from 25 insurance companies amounted to 390 million manat, which compared to the same period last year is 15.1% (51 million manat) more, according to the Financial Markets Supervision House.
The insurance payments for the reported period amounted to 167 million manat. This compared with last year is 31% more.
During the first 9 months of 2016, voluntary insurance premiums increased by 18.7%, and payments increased by 32.2%, reaching respectively 250.8 million and 125.4 million manat.
Compulsory insurance fees increased by 9%, and payments increased by 27.7% to 140 million and 41.5 million manat respectively. ----71D
Economics
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The Azerbaijani government has adopted new guidelines to facilitate employment for individuals with special social protection needs and those facing difficulties in securing jobs. The resolution, approved on December 29 by the Cabinet of Ministers, outlines targeted programs aimed at job creation through public-private collaboration.
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The Cabinet of Ministers of Azerbaijan has approved new regulations to facilitate targeted employment programs aimed at supporting individuals with special social protection needs and those facing employment challenges. The measures, under the State Employment Agency, seek to enhance job creation in priority economic sectors.
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The Cabinet of Ministers of Azerbaijan has announced key amendments to various regulatory acts to ensure compliance with the law adopted on May 24, 2024, aimed at updating the Tax Code, the Customs Code, and laws on state duties and licensing.
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The Azerbaijani Cabinet has implemented significant changes to energy regulations in line with new laws aimed at enhancing the country’s electrical infrastructure. A decree signed by Prime Minister Ali Asadov on December 29 introduces amendments to several prior governmental decisions and cancels previous regulations, including a key rule on electricity production and equipment operation limits.
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