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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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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