Insurance companies of Azerbaijan in January-February this year as part of compulsory insurance and disability of individuals from accidents and occupational diseases in the aggregate collected 5.6 million manat (3.4% to 1 March last year).
According to the Association of Insurers of Azerbaijan (AIA), in January-February 2015, insurers made payments on this type of insurance in the amount of 628.5 thousand manat (minus 58.8%).
Services for this type of insurance are provided by three insurance companies.
The law "On compulsory insurance and disability of individuals from accidents and occupational diseases" was promulgated from December 16, 2010, after the completion of the approval of legal acts to the commencement of services for this type of insurance.
According to the decree of the Cabinet, all economic activities are divided into 14 levels of risk. Based on this level of risk, the amount of the insurance rate is determined for employees and workers in the enterprise, which ranges from 0.2% to 2%, depending on the risk level of the enterprise.
Under the law insurance rate is estimated to fund wages in the enterprise. The law provides for three types of insurance payments: monthly, one-time and extra. --17D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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