Payments for CTP Reduced in February

The Bureau of Compulsory Insurance (BCI) paid a total of 2 million 99.88 thousand manat in February (minus 154.3 thousand or -6.9% to last year's February) in the framework of compulsory insurance of civil liability of owners of vehicles to third parties (CTP).

According to the report of this entity at the Ministry of Finance, members of BCI in February made payments on 1,771 insurance claims (+ 2%). Most of the payments were made on the requirements related to damage to vehicles (1 million 870.06 thousand manat on 1,646 requirements). The remaining payments are associated with damage to property - 87.07 thousand AZN on 50 requirements, injury - 77.75 thousand AZN on 62 requirements, as well as in connection with deaths in car accidents - 65,000 manat (13 cases).

Recall that in the framework of CTP the insurance amount on property damage is 5,000 manat and the same amount regards damage to health of one person, while the overall limit for one event is 50,000 manat. Thus, the maximum amount of insurance coverage for CTP may reach 55 thousand manat.

BCI was established in the framework of the implementation of the law "On compulsory types of insurance." It consists of 15 insurance companies, 11 of which have the right to provide services for CTP.

Last year, insurers paid 26 million 833 thousand manat on CTP (+ 5.93% against the end of 2013). --17D-