The Size of Insurance Payments Rose almost 1.5 Times
In January-August for all types of insurance companies were paid 58 million 873.05 thousand manats, which is 38.4% more than last year.
Voluntary insurance payments produced 48 million 897.2 thousand manat.
The greatest amount of compensation was in VHI - 25.12 million manat and vehicle insurance - 14.35 million manat, voluntary life insurance paid 2.79 million manat, travel insurance - 132.93 thousand manat.
Accident insurance paid 1.02 million manat, property insurance against fire and other risks - 2.14 million manat, insurance of waterways - 750.46 thsd AZN, aircraft insurance - 868.3 thousand manat (anti-record for all years). Cargo insurance paid 161.57 thsd AZN and voluntary liability insurance of vehicle owners - 147.9 thousand manat.
Voluntary insurance of civil liability for the conclusion of regulations paid 7.51 thsd AZN, general liability insurance - 126.12 thousand manat, and employers' liability insurance - 49.36 thsd manats.
For the death of livestock, as well as on the facts of crop offset it was paid 157.78 thousand manat, which against other types was encouraging.
Mandatory insurance generally paid on contracts 9.98 mln of compensation. In particular, the compulsory insurance of servicemen paid 5.01 million manat, compulsory state insurance judges and law enforcement - 405.92 thousand manat, and the old CTP paid 488.12 thousand manat.
By species, included in the list of the new tariff, the situation is this: the compulsory insurance of civil liability of vehicle owners (new CTP) paid 2.51 million manat, compulsory property insurance - AZN 344.18 thsd, mandatory fire insurance - 350 .7 thousand manat. -17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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