The disbanded State Insurance Supervision Service of the Ministry of Finance of Azerbaijan has published the latest results of an independent report on the year.
Last year, cases of evasion of payment by insurers were identified on the cases proved in the amount of 355,000 manats. After examining the complaint the companies had to pay the costs in full.
In addition, checks were carried out of 1 reinsurance company, 1 broker company and 9 insurance companies. The identified deficiencies led to fines in the total amount of 3.7 million AZN.
Last year, the Ministry of Finance represented by the state service issued perpetual licenses of insurance agents to three legal entities and 84 individuals.
Recall, according to the presidential decree, the service functions have been assigned to the Financial Market Control House. --17D-
Economics
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The Central Bank of the Republic of Azerbaijan aims to enact green bond legislation by year-end, Chairman Taleh Kazimov announced on Thursday during a roundtable discussion at Baku Climate Action Week focused on personal finance.
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Azerbaijani President Ilham Aliyev inaugurated several new enterprises and toured ongoing construction projects in the Zangilan district on Thursday, marking significant strides in the region’s post-occupation recovery.
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Azerbaijani President Ilham Aliyev on Thursday inaugurated several new enterprises and inspected ongoing construction projects in the Jabrayil district, recently liberated from occupation.
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President of Azerbaijan Ilham Aliyev has signed a decree approving a revised structure for auxiliary structural units within the country's state bodies, aiming to enhance administrative efficiency and optimize governmental functions.
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