In January, local insurers - members of the Bureau of Compulsory Insurance (BCI) increased their property insurance by 38% to the first month of last year.
According to the official information on the BCI website, together this segment supplied 5.7 million AZN. In order to collect as much money, the insurers concluded 5,253 contracts with property owners (minus 22.6%). Previously, the absolute of the contracts accounted for houses and apartments, whereas now the housing portfolio is 55.4%, 0.5% is the share of administrative buildings, and 44.1% is commercial property.
The maximum amount of insurance coverage in insured property cases in the capital is 25,000 AZN, in Gandja, Sumgayit and Nakhchivan it is 20,000 AZN, and in other localities it is 15,000 AZN. The insurance rate for this type of insurance is 0.2% of the sum insured. --17D-
Economics
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