Lump sum paid by Pasha Hayat Sigorta for accidents at work

The insurance company Pasha Hayat Sigorta made a one-time payment of 37,793 manat for an occurrence in the compulsory insurance and disability of individuals from accidents and occupational diseases.

According to the press release of the financial structure, an accident occurred at one of the industrial enterprises, as a result of an accident killed an employee of the enterprise. One-time non-cash payment is related to the first category of the deceased.

In general, payments by Pasha Hayat Sigorta on this position from the beginning of this year exceeded 142 thousand manats.

The law "On mandatory insurance of disability of individuals from accidents and occupational diseases" was approved in July 2010. In mid-December of the same year, the process of approval of the regulations started by the Ministry of Finance, Ministry of Justice and the Cabinet of Ministers for the start of service for this type of insurance.

Today in Azerbaijan there are 3 specialized insurance companies for life. Government in November 2010 approved contribution rates in this segment. According to the document, all economic activities are divided into 14 levels of risk. Based on this level of risk, determined the amount of the insurance rate for employees and workers at the plant, which is 0.2% to 2% depending on the risk level of the enterprise. The insurance rate is estimated to payroll at the company.

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

The insurance company Pasha Hayat Sigorta started actual operation in mid-February 2011.

The founder of the company is a commercial structure Pasha Holding.

The registered capital is 15.05 million manat. - 17D-


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