Life insurance payments increased nearly threefold

life insurers collected in January-August 22,376,240 manats (+ 9.33% as of 1 September last year) in the framework of compulsory insurance and disability of individuals against accidents and occupational diseases.

According to Azerbaijan Insurers Association (AIA), in August srvrkupnye companies' premiums on this type of insurance totaled 1,416,110 manats. Payments amounted to 1,867,180 manats (growth by 2.6 times), including in August - 129,450 manat.

Services in Azerbaijan on this type of insurance provide insurance companies 3 - Pasha Hayat Sigorta, Ateshgah Hayat Sigorta and Qala Hayat Sigorta.

The law "On mandatory insurance of disability of individuals against accidents and occupational diseases in the production of" engaged in December 2010 after the approval of the Ministry of Finance and the government legal acts.

By law, all economic activities are divided into 14 levels of risk that affect the size of the insurance rate - from 0.2% to 2%. The insurance rate is calculated to payroll at the company.

The law provides for three types of insurance payment: monthly, one-time and extra. --17D-

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