Bureau of compulsory insurance (ISB) has paid compensation in the amount of AZN 5 in connection with the death of a citizen in a traffic accident.
According to a press release from the Office (http://isb.az/index.php?option=com_content&view=article&id=107%3Acbari-sorta-buerosu-trfindn-17052013-cue-il-tarixind-10-cu-kompensasiya-oednii-hyata-kecirilmidir&catid=2%3A2011-11-10-08-59-24&Itemid=5&lang=az), the incident was last year in Ziya Bunyadov Street in the capital.
"Compensation was paid on May 17 by the non-cash payment (by mail)", - the report says. This is the seventh compensation payments made by the Bureau.
Financial reserves the Bureau to January 1, 2013 amounted to 4 million 88.67 million manat.
Compulsory Insurance Bureau was established in the law "On mandatory types of insurance" and the start of operations in December 2011. Members of the Bureau are currently 11 insurance companies operating in Azerbaijan.
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.
Financial Resources of the Bureau are formed from several sources. First, it will be an entrance fee, which make insurers, for the Bureau to get started. Second, insurers do security deposit for each type of compulsory insurance, which want to do. Third, 5% of the total premiums for compulsory, insurance companies should be transferred monthly to the Bureau.
Bureau members at the moment are 11 companies: "Azers?gorta", AXA MBASK, "Ateshgah", "Xalq S?gorta", "Standard Insurance", "Pasha S?gorta", "AzS?gorta", "Meqa S?gorta", "Ata S?gorta", " Ipek Yolu Sigorta "and" Azerbaycan Senaye Sigorta ". The company "Alfa S?gorta" Finance Ministry denied a license for alleged violation of the rules on compulsory motor TPL insurance. - 17D-
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