In January, the total premiums of insurance companies in the framework of compulsory insurance and disability of individuals from accidents and occupational diseases accounted for 2.5 million manat (92.1% more than a year earlier).
As Azerbaijan Insurers Association (AIA) told Turan, against this background, the level of payments reduced - 151.9 thousand manat (minus 17.5%).
Recall that services under this type of insurance valid from December 16, 2010 are provided by 3 insurance companies.
In November of the same year the Cabinet approved the corresponding rates of payments. According to the decree, all economic activities are divided into 14 levels of risk on the basis of which the size of the insurance rate is determined for employees and workers, which ranges from 0.2% to 2% depending on the risk level at the enterprise.
Under the law an insurance rate is estimated against the wages fund in the enterprise. The law provides for three types of insurance payments: monthly, one-time and extra. --17D-
Economics
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Food prices in Azerbaijan’s capital, Baku, increased by 5% during the first nine months of 2024, highlighting rising inflationary pressures in the domestic market, the Turan agency reported.
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Global grain prices continued their downward trajectory in August, as the FAO grain price index slipped 0.5% from July and a sharp 11.9% year-on-year decline, reflecting weakening demand and intensifying competition among major exporters. Wheat prices were particularly impacted by higher-than-anticipated production levels in Argentina and the United States, exerting additional downward pressure on the international market.
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Azerbaijan’s national air carrier, AZAL, has enhanced its international travel offerings through a new partnership with Ethiopian Airlines, providing passengers with increased connectivity and convenience for global travel, the airline announced on Monday.
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The Azerbaijan Trade Forum, held on October 7, underscored the vital role of small and medium-sized enterprises (SMEs) in enhancing the country’s non-oil exports. Jointly organized by the Small and Medium Business Development Agency (SMBDA) and the Association of Customs and Logistics Companies of Azerbaijan, and supported by Pasha Holding, the event brought together stakeholders from various sectors, including import-export, logistics, production, and customs representation.
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