Members of the Bureau of Compulsory Insurance (ISB) in August as part of the compulsory insurance of civil liability of vehicle owners to third parties ( CTP ) received more than 5.1 million of premiums on 68,500 insurance contracts.
As stated in the press release of the Bureau, the largest part of August contracts ( 45,200 ) accounted for local cars, the remaining 23,300 are insured foreign cars, traveling to Azerbaijan to transit (insurance contract is concluded for a period of 1 month and 1 year) .
Compared with August last year, the number of contracts fell by 5.4% and the amount of premiums collected fell by 15.1 %. According to the ISB, the average size of the premium under one contract of 75 manats.
Earlier, the Bureau, the accumulating funds within the predicted CTP premiums up in 2013 at 60 million with payments of 20 million manat . From January 1 to September 1 this kind of raised a little more than 43 million manat .
Bureau of compulsory insurance was established in the framework of the implementation of the law "On mandatory types of insurance," and from December 16, 2011, the sale of insurance policies CTP on the new tariffs and conditions. The members of the Bureau are 12 insurance companies.
The annual base rate (50 AZN) is used for vehicles with engines up to 1500 cubic centimeters. The maximum rate (250 manat ) - for vehicles with an engine capacity of more than 5000 cubic centimeters. For buses and vans that transport passengers with a number of seats from 9 to 16 the 3 rate is applied to the base rate, and for more than 16 seats the coefficient is 4.
For trucks the ratio is 3 to 5, depending on the maximum load capacity.
For motorcycles, tractors and other agricultural machinery the coefficient is 1.
By CTP insurance amount for damage to the property is 5,000 manat, and the sum insured for damage caused to health per person is 5,000 manat.
Total limit for one claim is 50,000 manat. The maximum amount of insurance coverage for CTP is 55,000 manat. - 17D-
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