The Bureau of Compulsory Insurance (BCI) paid regular compensation in the amount of AZN 5,000 in connection with the death of a man in a road traffic accident. The accident occurred on November 29, 2013.
According to the press release of the organization, the compensation was paid on April 23 of this year to the family of the deceased in a non-cash form (by mail).
As previously reported, BCI last year paid 24 compensations totaling AZN 54,391 to the victims and families of those killed in road accidents.
BCI was established on the law "On mandatory types of insurance." The Bureau members are currently 15 insurance companies operating in Azerbaijan.
Its main feature is compensatory payments, certain financial management of the fund, through which the compensation will be produced.
The financial resources of the Bureau are formed from entrance fees of the 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 items.
The membership fee for the insurance companies that want to become founders and join the Bureau is 200,000 manat. - 17D-
Economics
-
Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
-
The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
-
On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
-
Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
Leave a review