The local companies dealing with compulsory insurance of disability of individuals from accidents and occupational diseases collected 27.1 million manats by October 1 (+ 11.1% versus the same period last year).
According to the data of the Association of Insurers of Azerbaijan (AIA), the services in this segment are provided by three financial institutions that specialize in life insurance.
Payments on this type of insurance amounted to 1.8 million manats (+ 9.2%) at a ratio to premiums at 6.6 kopecks to 1 manat. According to experts, this is an extremely low level. The average level of payments in the CIS is 25%, and in Europe - 35-40%, depending on the country.
The law "On compulsory insurance of disability of individuals from accidents and occupational diseases" came into force on 16 December 2010. --17D-
Economics
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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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