Azerbaijani insurers will now make payments under compulsory insurance to all victims without exception.
According to the decree of President Ilham Aliyev on the approval of amendments to the law "On mandatory insurance", local companies will have to make payments to victims in connection with an insured event occurs regardless of whether the person concerned is the owner of the property or not. In case of death of the insured is affected his family.
The authorized body shall meet within 10 days the request of the insured, if the information is not prohibited by the announcement of the "Law on obtaining information."
Policyholder will delay payment, pay a penalty of 0.1% of the amount of insurance payment for each day of delay in payment.
Henceforth, insurers will certainly provide customers at an affordable memo language for them that should be taken in the insurance case, as well as legal grounds for refusal of payment.
Insurers will not have the right to refuse to provide services to compulsory insurance regardless of the level of risk insured. - 17D-
Economics
-
The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
-
Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
-
Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
-
Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
Leave a review