Within the CTP members ISB collected about 7 million manat

The sum of premiums under the liability insurance of vehicle owners (CTP), collected in April by local insurance companies - members of the Bureau of Compulsory Insurance (ISB) exceeded 6.7 million (+ 18.9 % compared with last April) .

   As the report of the Bureau said, during the month 94 952 contracts of CTP were concluded, including about 17 thousand contracts of insurance of motor vehicles registered abroad and entering Azerbaijan to transit.

The average size of the insurance contract signed in April of this year was 71.3 manats.

Recall that selling policies in the new CTP began on 16 December 2011. Base rate (applicable to vehicles with an engine capacity of up to 1,500 centimeters) is 50 manat. As the amount of the engine increases, coefficients from 1.5 to 5 are used. For vehicles with engine capacity of more than 5 thousand Cm the coefficient is 5, i.e. the insurance rate is 250 manat.

For buses and vans that transport passengers with the number of seats from 9 to 16 the coefficient 3 is applied to the base rate, while more than 16 seats are applied the coefficient 4.

For trucks the coefficient ranges from 3 to 5, depending on the maximum capacity.

For motorcycles, tractors and other agricultural machinery the coefficient is 1.

By CTP the insurance amount for damage to property is 5,000 AZN, the insurance amount for damage to health per person is 5,000 AZN and the total limit for one event is 50,000 AZN. Thus, the maximum amount of insurance coverage for CTP can reach 55 thousand manats. - 17D-