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Insurers are increasingly paying customers
In the first quarter of all types of insurance companies had made payments of $ 25 million 398.29 million manats, which is 34.5% more than last year. Growth, particularly in the segment of payments due to mandatory civil liability of vehicle owners - 4.99 million manats (as of April 1 last year for CTP was paid more than 50 times less - 80.04 thsd manats).
In insurance cases voluntary items produced 17 million 878.58 thousand manats of payments. The greatest amount of compensation was in VHI - 9.6 million manats and hull insurance of motor vehicles - 5.74 million manats, voluntary life insurance paid 801.68 thsd manats, travel insurance - 63.02 thsd manats.
For accident insurance it was paid 234.96 thsd manat, for property insurance against fire and other risks - 1.28 million manat, cargo insurance - 5.78 thsd AZN and for voluntary insurance of civil liability of vehicle owners - 34.84 thousand manats.
According to general liability insurance, it was paid 102.26 thsd manats, employers' liability insurance - 15.71 thsd manat. The death or deaths of livestock, as well as on the facts of crop offset the overall 64.36 thsd manats.
Mandatory insurance generally paid on contracts 7.52 mln of compensation. In particular, mandatory military insurance paid 1.68 million manats, compulsory state insurance court officials and law enforcement agencies - 192.16 thsd manats, and old CTP - 8,059 manats.
By types, included in the list of the new tariff, the situation is like this: the compulsory insurance of civil liability of owners of vehicles (new CTP) paid 4.99 million manats and on compulsory insurance of property - 365.33 thousand manats. - 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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