The State Insurance Supervision Service under the Ministry of Finance believes that there is no reason to raise tariffs on compulsory insurance of civil liability of vehicle owners (CTP).
The head of the Service Namig Khalilov told reporters the loss ratio of insurers specializing in this segment is acceptable, and the overall situation in insurance is much better than in other financial areas. However, the portfolio of premiums is reduced.
As of 1 September, the largest decline in premiums was observed in the title and mortgage insurance (minus 100% to 1 September of the previous year).
In addition, charges for insurance in case of death (- 22.7%), individual accident insurance (-18.8%), CASCO insurance of vehicles (- 16%), as well as a number of other positions, reduced.
Also decreased the amount of payments on occurring cases, especially insurance of water and air transport, property insurance against fire and other risks, as well as insurance of employees’ fraud (-100%). Payments for professional liability insurance decreased 89%, and CTP payments - by 83.9%. --17D-
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review