The date of the third national forum of insurance agents is known. The leader of Azerbaijan Insurers Association (AIA) Orkhan Bayramov told Turan the event will take place on December 17 and will consist of three topical panels.
Firstly, the role of the government in dealing with this category of insurers is growing. Here we muswt consider the role of insurance companies themselves and the growing importance of consultations between the agents, he said.
So, while the license for an agent to operate was for an indefinite term before, now it is valid for 3 years. To improve the regulation, the government is considering reduction of the period of its validity to two years. These points will affect the market by making insurance agents more responsible to the clients, said the financier.
AIA was established in December 2006. The main purpose of the Association is to ensure the development of the insurance market of Azerbaijan, as well as the unanimous performance of the insurance companies in the discussion of the problems and prospects of the insurance market. --17D-
Economics
-
The labor market in Azerbaijan in 2024 presents a mixed picture: a slight decrease in the unemployment rate alongside growing challenges in addressing youth employment issues. Despite significant progress in formalizing employment and creating jobs, the mismatch between labor force growth and job availability remains a pressing issue.
-
SOCAR Turkey, the largest foreign investor in Turkey, held a press conference in Istanbul to review its 2024 operational results. The event, attended by Azerbaijani media representatives, featured insights from SOCAR Turkey CEO Elchin Ibadov and Refining and Petrochemical Business Unit Head Kenan Mirzayev.
-
Azerbaijan’s energy sector remains the backbone of its economy, contributing nearly half of government revenues, buoyed by elevated oil prices. Despite a gradual decline in oil production, the rate of decrease has slowed, reflecting a stabilized approach to managing the country’s hydrocarbon resources.
-
Azerbaijan navigated a turbulent economic period in 2024, characterized by inflationary pressures, persistent fears of devaluation, and limited structural reforms. While official data pointed to moderate inflation, deeper vulnerabilities and growing public dissatisfaction cast a shadow over the country's financial stability, economist Gubad Ibadoglu noted.
Leave a review