In January-June, the Bureau of Compulsory Insurance (BCI) within the framework of civil liability of vehicle owners to third parties paid 11 million 898.85 thousand manats (minus 6% to July 1 of last year).
According to the information of the accumulating and regulatory framework, in June the figure was 2 million 235.47 thousand manats on 1,758 cases. Most of the benefits (2 million 454 thousand manats to 1,653 insurance claims) is associated with damage to vehicles.
Sale of the insurance policy for CTP started from December 16, 2011. The sum insured under property damage amounts to 5,000 manats, with damage to the health of one person – 5,000 manats, and with a total limit per insured event – 50,000 manats.
BCI was established in the framework of the law "On compulsory types of insurance". The members of the Bureau are 15 insurance companies. Eleven of them have the right to provide CTP services. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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