Last year, payments under the civil liability of vehicle owners to third parties (insurance) reduced in comparison with 2014 year by 15%.
According to the report of the Bureau of compulsory insurance (ISB), a total of 11 members of the structure have paid from January through the end of December 22,722,698 manat within proven 18,673 cases (minus 10%). Most of the cases (17 326) fell on insurance claims related to damage of vehicles - together amounting to 20,012,450 manat.
New insurance policies apply from 16 December 2011. These tariffs and conditions if the sum insured is damage to property, as well as the health of one person is 5000 manat with total limit per insured case of 50 000 manats. --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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