The winners of the contest among the journalists covering insurance processes and trends in Azerbaijan have been named.
The state insurance inspection service of the Azerbaijan Finance Ministry reported that the creative contest “Obligatory Insurance of Houses and Apartments” was devoted to the National Press Day.
Orhan Bayramov, chairman of the Azerbaijan Association of Insurers, said that majority of population is unable to withstand natural risks independently. Media is going to fill this gap and inform the population about importance of obligatory insurance of apartments and houses. Namig Halilov, chief of the State Insurance Inspection Service, said that goal of the contest is to stimulate the journalists to cover this topic. The journalists of Caspian newspaper and Trend and APA news agencies were the winners.
From January to June 2013 the members of the Obligatory Insurance Bureau concluded over 50,000 contracts to a total amount of 6.6 million AZN in this area. This is not much considering over 2.5 million of buildings, including houses, apartments, garages and offices of juridical persons and state property, which also fall under obligatory insurance.
The insurance companies will cover natural calamities in the contracts, but will not take into account the social risks. Maximum sum of insurance of immovable property in Baku is 25,000 AZN, in Ganja, Sumgait and Nakhchivan – 20,000 AZN and other settlements – 15,000 AZN.
The insurance fee is 0.2% of size of the insurance sum. This year the State Insurance Inspection Service of the Finance Ministry forecasts to conclude 150,000 contracts for this type of insurance.—0-
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