The Bureau of Compulsory Insurance has paid compensation in the amount of 5,000 manat into the death of a man in a traffic accident.
As noted in a press release the Office, the accident occurred on March 21 this year on the motor road Khaldan - Mingachevir and the compensation was paid by August 23 in cashless payment.
The Bureau of Compulsory Insurance was established in the framework of the law "On mandatory types of insurance." Members of the Bureau are currently 12 insurance companies operating in Azerbaijan. One of them, Alfa Sigorta is deprived of the opportunity to insure the customer through the liability of owners of vehicles, that is discrimination on the part of the Ministry of Finance.
The main function of the Bureau is the implementation of compensation, management of certain financial fund, which will be produced by means of the payment of compensation.
The financial resources of the Bureau are formed from several sources. First, it is an entrance fee, which is made by insurers. Second, insurers make a security deposit for each type of compulsory insurance, which they want to do. Third, 5% of the total premiums for compulsory, insurance companies should be transferred monthly to the Bureau.
The membership fee for the insurance companies who want to become founders and start Bureau is 200,000 manat.
The size of a single deposit to the Bureau on compulsory insurance of civil liability of vehicle owners (CTP) is 200,000 manat. - 17D-
Economics
-
The minimum wage in Azerbaijan, currently set at 345 manats, will be increased at the beginning of 2025 to meet the country’s international obligations. This was announced by economist and Member of Parliament Ali Mansimli during an interview with TV channel "24". According to him, the current minimum wage level does not meet the requirements of several international documents, which state that the minimum wage should be at least 60% of the average salary, which is 1000 manats. This means that the minimum wage in Azerbaijan should be 600 manats; however, it currently stands at only 34% of the average salary.
-
The Cabinet of Ministers of Azerbaijan approved a series of amendments on September 25, to the laws regulating the circulation of medicinal products, as part of the implementation of the "Law on Amendments to the Law on Medicinal Products of the Republic of Azerbaijan" adopted on July 14, 2023. These amendments aim to align national legislation with international standards and strengthen the regulation of pharmaceutical product circulation in the country.
-
The Ministry of Digital Development and Transport of Azerbaijan has approved a new regulation titled "Flight Operations Preparation Rule," aimed at enhancing the safety and efficiency of civil aviation activities. Decision number 3-27/3-7-16/2024 was adopted by the ministry’s collegium on September 12, 2024, in accordance with the law "On Aviation" dated December 22, 2023.
-
The Ministry of Digital Development and Transport of the Republic of Azerbaijan approved a comprehensive set of airworthiness regulations aimed at ensuring the safety and reliability of the country’s civil aviation sector.
Leave a review