By 1 September twelve insurers-members of the Bureau of compulsory insurance (ISB) collected in the framework of the law "On compulsory types of insurance" 74,157,670 manats (+ 29.1% compared to January-August last year.)
According to the data accumulating structure, most of the premiums was collected under insurance (53 million 14.780 manat) on compulsory insurance of immovable property belonging to individuals, 20. 799.330 manats (82, 3%) were collected.
Additional 258.093 manat come from public liability insurance while exploiting the real estate, insurance of passengers replenished the treasury is not essential - to 84.630 manat (minus 2.1%.)
Bureau of compulsory insurance was established in the framework of the law "On compulsory types of insurance". It includes 15 domestic insurers, 12 of which provide the above mentioned services.
The law applies to four types of insurance: compulsory insurance of motor third party liability (MTPL) insurance, real estate, civil liability in the operation of real estate, insurance of passengers.
The membership fee to the Bureau amounts 200,000 manat. The size of a single deposit insurers for property and liability for it is 100,000 manat. For those interested in insurance under the insurance and the insurance of passengers, a one-time deposit is 200,000 manats. --17D-
Economics
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Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
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The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
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Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
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In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
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