![Insurers urged to increase mandatory fees](https://turan.az/resized/./turan-750-500-resize.webp)
Insurers urged to increase mandatory fees
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
-
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.
-
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.
-
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.
-
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.
Leave a review