In January-March, the insurance companies of Azerbaijan, specializing in life insurance, in the aggregate for compulsory insurance against diseases and accidents at work paid 557.04 thsd manat - to 4.53 times greater than as of April 1, 2012 (123.1 thsd).
According to the State Insurance Supervision Service of the Ministry of Finance, much more grew up payments on other types of life insurance - for example, on accumulative insurance they paid 769.1 thousand manats.
As a whole, the company Ateshgah Hayat Sigorta paid for all events 879.24 thousand, Pasha Hayat Sigorta - 347.97 thousand, and Qala Hayat Sigorta - 147.98 thsd AZN (collectively AZN 1 mln 375.19 thsd).
The law "On mandatory insurance of disability of individuals from accidents and occupational diseases" was approved in July 2010. In December 2010, the process of approval regulations for the start of services on this type of insurance started.
The Cabinet of Ministers in November 2010 approved the tariffs for compulsory insurance against disability resulting from accidents in production. According to the Cabinet of Ministers of Azerbaijan Republic, all economic activities are divided into 14 levels of risk. Based on this level of risk, determined the amount of the insurance rate for employees and workers at the plant, which is 0.2% to 2% depending on the risk level of the enterprise.
According to the law the insurance rate is estimated to payroll at the company.
The law provides for three types of insurance payments: monthly, one-time and extra. - 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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