Social Benefits Amounted to More than Half of All Insurance Compensation
In January-July for all types of insurance the companies paid 49 million 469.15 thousand manat.
Voluntary insurance claims produced AZN 41 million 84.49 thsd of payments. "Social payments" made more than half (57%) of voluntary compensation.
From this on auto insurance was paid 12.47 million manat, on LCA - 21.44 million manat (12 million more than last year), on voluntary life insurance - 1.11 million manat, on accident insurance - AZN 931.06 thsd, on property insurance against fire and other risks - 1.71 million manat, on insurance of aircraft - AZN 868.3 thsd (anti-record for all years), cargo insurance - 160.37 thousand manat, voluntary liability insurance of vehicle owners - 135.39 thousand manat.
Voluntary insurance of civil liability for the conclusion of regulations paid 7.51 thsd AZN, general liability insurance - 125.2 thousand manat and employers liability insurance - 48.65 thsd manat.
On the death of livestock, as well as on the facts of crop offset was paid 127.41 thousand manat.
Mandatory insurance generally paid on contracts 8.38 million of compensation. In particular, the compulsory insurance of servicemen paid 4.43 million manat, compulsory state insurance of judges and law enforcement - 388.36 thousand manat, and old CTP - 446.87 thousand manat.
On the items included in the list of the new tariff, the situation is this: the compulsory insurance of civil liability of vehicle owners (new CTP) paid 1.73 million manat, compulsory property insurance - 189.33 thousand manat, liability of owners of property - 54.54 thousand manat. - 17D-
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- Question-answer
- 17 August 2012 14:22
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- Economics
- 17 August 2012 15:05
Economics
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The government of Azerbaijan has amended its customs tariffs, reducing import duties on specific bicycle components to support the domestic assembly industry. According to the decision approved by the Cabinet of Ministers on October 31, the updated tariffs will remain in effect until December 31, 2028, allowing local businesses to import key parts at reduced rates or zero duties.
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On September 1, The Cabinet of Ministers of Azerbaijan has implemented new aviation regulations aimed at reinforcing the airworthiness, operational standards, and safety protocols for foreign-registered civil aircraft operating within its airspace. The decision, approved on October 31, establishes comprehensive guidelines for pre-flight checks, essential onboard documentation, and crew requirements, aligning with international standards set by the International Civil Aviation Organization (ICAO).
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The Central Bank of Azerbaijan (CBA) reported that its foreign exchange reserves amounted to $11.371 billion as of October 31, 2024. This represents a slight reduction of 3.6 percent from the September level, but an 8.2 percent increase compared to October 2023, highlighting the CBA’s role in navigating market demands while supporting national economic priorities.
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A delegation from the State Oil Fund of the Republic of Azerbaijan (SOFAZ), led by the fund’s Executive Director Israfel Mammadov, concluded a working visit to Saudi Arabia. The visit aimed to strengthen strategic partnerships in the international financial market and diversify SOFAZ’s investment portfolio.
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