The Ministry of Finance has prepared a draft form of the certificate of compulsory insurance of immovable property

This year compulsory insurance of real estate will be massive. This will be possible after the approval of the draft amendments to the "form of the certificate of compulsory insurance of immovable property, the rules for its completion and printing" prepared by the Ministry of Finance of Azerbaijan.

As discussed in section bills Integrated Portal permits (http://www.icazeler.gov.az), the Bureau of Compulsory Insurance (ISB) is given one day to input data series and number of the certificate in information system. The document also defines the procedure for completing the certificate and entering data about it in the information system provided by the other three types of compulsory insurance.

The series and number of certificate for these types of insurance must also be entered into the information system of the Bureau within one day.

Bureau of Compulsory Insurance, whose members include 12 local insurers, was established in the framework of the law "On mandatory types of insurance." Its main feature is the accumulation of savings and compensation in the event of disputes, insolvency of insurance companies that provide services for compulsory insurance.

The membership fee to the Office is 200 manats. For each type of insurance is a separate deposit. Single deposit for the compulsory insurance of real estate and the responsibility of its owners is 100 thousand manats. Deposit by CTP and individual compulsory insurance of passengers is 200 thousand manats. - 17D-