New body on motor insurance to be established in Azerbaijan

New body on motor insurance to be established in Azerbaijan
# 21 April 2011 13:32 (UTC +04:00)
The document says that this bureau will be set up as union of legal entities for maintenance of stability and development of compulsory insurance system, protection of interests of third persons suffered damage on property and health. In other words, founders of this body will be the companies engaged in compulsory insurance.

Note that, according to law, the third persons, who suffered damage on their health as a result of use of transport in the country, will receive compensation from this body.

Moreover, integrated electronic information system will be established on exchange of information of motor vehicle owners’ liability insurance and conducting more effective control on it, as well as on contracts, insurance events, insurers, survivors, transport and their owners. The information on contratcs related to compulsory insurance and their details will be kept in this system.
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THE OPERATION IS BEING PERFORMED