Payments to members of the Bureau of Compulsory Insurance amounted to about 80% of the market volume
Minimum premiums collected in January-July by participants in the Bureau of Compulsory Insurance were 4.6 million manat. It is so much Mega Sigorta collected in the absence of another relative outsider (the Ministry of Finance has disfavored Alfa Sigorta, whose license was first frozen and then terminated by the Minister).
In general, participants in a collective piggy bank office received during this period 153.66 million manat, which is about two-thirds (67.1%) of the total (228.97 million manat). If we add to these prizes compulsory insurance against accidents and diseases at work, we will see that the local market almost entirely (except for VHI and Hull for vehicles) consists of compulsory insurance.
An even greater imbalance in the ratio of payments - all claims of the insurance customers "elite" were 54.91 million manat (79.7% of all payments).
The Bureau of Compulsory Insurance was based December 16, 2011, in accordance with the requirements of the law of the same name. The structure includes 11 participants of the insurance market, which consists of 28 companies.
The main function of the Bureau is the implementation and management of compensation to certain financial fund, which will be produced by means of the payment of compensation. Compensation will be made in the event of bankruptcy of insurance companies - members of the Bureau.
Financial resources of the Bureau are formed from the entrance fee, a security deposit for each type of compulsory insurance, as well as 5% of the total premiums for compulsory that insurance companies will be transferred monthly to the Bureau.
The law "On mandatory types of insurance" covers four types of compulsory insurance. This CTP insurance, property insurance, liability insurance for the operation of real estate, insurance of passengers. In this case, under the terms of the law, to provide services to these types of compulsory insurance, only insurance companies - members of the Bureau. - 17D-
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