Bank Of Baku

Tariffs on Compulsory Insurance against Industrial Accidents & Occupational Diseases determined in Azerbaijan

Tariffs on Compulsory Insurance against Industrial Accidents & Occupational Diseases determined in Azerbaijan
# 21 December 2010 15:14 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. Rules of insurance payments and insurance tariffs were determined in accordance to relevant decision of Cabinet of Ministers for employment of law on Compulsory Insurance against Industrial Accidents & Occupational Diseases in Azerbaijan. According to APA-Economics, monthly insurance payment, term of insurance payment once and for all and implementation of additional insurance payment, stopping and resuming procedures of payment were determined in accordance to these rules.

According to other decision of Cabinet of Ministers, insurance tariffs of staffs depending on risk group were determined. Insurance tariff on 1st risk group was determined as 0.2% of average annual salary for employees, 0.4% - for workers. Generally, economic activity types were divided by 14 risk groups.
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