To justify the insurance premiums video recorders can be used.
Yesterday the chairman of Azerbaijan Insurers Association (AIA) Orhan Bayramov expressed dissatisfaction with the small proportion of disbursements under the mandatory liability of vehicle owners to third parties. According to him, reference of traffic police into the accident is not sufficient and an objective assessment needs reinforcement in the form of video.
With this provision, insurers that have joined the Bureau of Compulsory Insurance do not agree. They may suffer losses from the application of this innovation. With reference to the constitutional provisions prohibiting the unauthorized video and photograph they believe that it is the prerogative of law enforcement.
According to Orhan Bayramov, who told Turan about the misunderstandings, he meant that the video recorders will help traffic police and it can become an objective appraiser of an accident in the event of a dispute between the insurer and the insured. - 17D-
Economics
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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.
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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.
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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.
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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.
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