New compensation upon accidents

The Bureau of Compulsory Insurance (BCI) paid regular compensation of 3,000 manat in connection with two traffic accidents. The accident occurred on November 26 and December 9 last year.

According to a press release, the payment (1.5 thousand manats each) was made to victims on April 28 of this year, non-cash (by mail).

As previously reported, BCI last year paid 24 compensations totaling 54,391 manat to the victims and families of victims of road accidents.

Bureau of compulsory insurance was established in the law " On mandatory types of insurance." Bureau members are currently 15 insurance companies operating in Azerbaijan.

Its main feature is compensatory payments to certain financial management of the fund, which will be produced by this compensation.

Financial resources of BCI are formed from entrance fees insurers - members of BCI, the security deposit for each type of compulsory insurance and 5% of the total size of the monthly premiums for compulsory insurance.

Membership fee for the insurance companies who want to become founders and start Bureau is 200,000 manat. - 17D-

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