Local participants of the Compulsory Insurance Bureau (CIB) paid 23.1 million manat in the mandatory liability insurance of vehicle owners of third party (CTP) by November 1. According to the Bureau, it is 16.7% more compared to the same period last year, when payments were at the level of 19.8 million manat.
Only in October, members of CIB on 2,813 insurance requirements in this segment made payments in the amount of 3,759,930 manat. Most of them (3.29 million AZN on 2,598 requirements) fell on the damage to the car, for property damage it was paid 152,620 AZN on 96 requirements, for health damage - 107,750 manat on 75 requirements, and in connection with the death in road accidents - 212,000 manat on 44 occasions.
Sales policies on CTP on the new tariffs and conditions began on 16 December 2011. The basic rate is 50 manat and applies to cars with an engine capacity of 1,500 cubic centimeters. With the increase in the volume of used coefficients from 1.5 to 5. For vehicles engine capacity over 5,000 cc. the coefficient 5 (250 manat) is applied. In buses and vans for passengers to the number of seats from 9 to 16, the ratio is 3, with more than 16 seats - the ratio is 4. In trucks the ratio is from 3 to 5 depending on the maximum capacity. For motorcycles and tractors and other agricultural machinery the coefficient is 1.
By CTP the insurance amount for damage to property is 5 000 manat, the sum insured for damage caused to health per person is 5,000 manat, and the total limit for one event is 50,000 manat.
The maximum amount of insurance coverage for the CTP could reach 55,000 manat. --17D-
Economics
-
Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
-
The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
-
Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
-
In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
Rəy yaz