Azerbaijan starts implementation of new project on corresponding of insurance legislation with international standards

Azerbaijan starts implementation of new project on corresponding of insurance legislation with international standards
# 13 April 2011 15:01 (UTC +04:00)
Baku. Elnur HUseynguluyev – APA-Economics. State Insurance Supervisory Service under the Ministry of Ministry of Finance starts implementation of project on learning of Polish experience and drafting proposals for corresponding of legislation related to protection of consumers’ rights in insurance sphere with the EU standards.

According to Service, this project was offered by Polish Financial Supervision Authority and developed in accordance to the subject submitted by Azerbaijani side. The project consists of 4 stages. This, first stage covers analyze of legislation documents on current situations and protection of customers’ rights in insurance market of Azerbaijan, second stage covers trainings for employees of Azerbaijan’s insurance supervision authorities by Polish experts for learning of EU’s directives, including Polish legislation and practice, third stage covers discussion of learning and preliminary recommendations of Polish practice on protection of consumers’ rights during insurance services within the Azerbaijani specialists’ visit to Poland.

Fourth stage covers drafting of final proposals on strengthening of protection of consumers’ rights and submitting this to the Ministry of Finance. At the same time, the Ministry’s experts will be assisted in on-line regime for corresponding of Azerbaijani legislation with the EU demands.
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THE OPERATION IS BEING PERFORMED