In contrast to CTP, 13 members of the Bureau of Compulsory Insurance (BCI) by April 1 reduced the level of collection of premiums under compulsory real estate insurance - up to AZN 8.4 million for the quarter (minus 10.9% to same period last year).
According to the report, this amount was collected (minus 45.7%) due to the sale of 15,970 policies.
In the last month of the quarter 5,245 contracts were signed with premiums of AZN 1.9 million, of which almost two-thirds (68.2%) were the proportion of housing, 31% - commercial properties, and 0.7% - administrative buildings.
Compulsory insurance of real estate applies to private and public property, and the insured event occurs relating to natural phenomena (floods, lightning, hail, rain, fires, explosions, short circuits in the power supply, accidents and other consequences of inadequate human activities.
Recall, the maximum payout in accordance with the earlier case is designed for real estate in Baku (25,000 AZN). For the cities of Ganja, Sumgayit and Nakhchivan compensation is provided at the level of 20,000 manats, in other areas - 15,000 manats at an annual insurance tariff in 0.2% of the sum insured. --17D-
Economics
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