Payments on accidents grow

In January-March, the insurance company of Azerbaijan, specializing in life insurance, in the aggregate paid AZN 284.57 - 4.4 times more than as of 1 April 2012 (65.39 thousand) for compulsory insurance against diseases and accidents at work. 

According to the State Insurance Supervision Service of the Ministry of Finance, payments for other types of life insurance increased. Thus, the company Ateshgah Hayat Sigorta paid on all cases 803.14 thousand AZN, Pasha Hayat Sigorta paid 148.01 thousand AZN, and Qala Hayat Sigorta paid 135.1 thousand manats. 

The law "On mandatory insurance of disability of individuals from accidents and occupational diseases" was approved in July 2010. In December 2010, approval of regulations for the start of services on this type of insurance completed. 

The Cabinet of Ministers in November 2010 approved the tariffs for compulsory insurance against disability resulting from accidents in production. According to the decision of the Cabinet, 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, and one-time extra. - 17D-