Insurers - participants of Compulsory Insurance Bureau (CIB) by December 1 of this year collected 15,745,840 manat under insurance of real estate owned by individuals, insurance of passengers, as well as civil liability in the operations of real estate (+19.5% against 11 months in 2013).
The specified amount of premiums was received on the results of 142,343 contracts (+37.1%), according to the press release from CIB. In November there were signed 12,324 contracts worth 1,040,590 manat. Compulsory insurance of residential property made up 78.07% of the November contracts, 0.13% were office buildings, and 21.8% were other types of real estate.
The maximum amount of insurance coverage in the event of damage to real property in Baku is AZN 25,000, in Ganja, Sumgait and Nakhchivan - 20,000 manat, and in other settlements - 15,000 manat.
The insurance rate for this type of insurance is 0.2% of the sum insured. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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