Bank Of Baku

Only 6% of registered cars insured voluntarily, in Azerbaijan

Only 6% of registered cars insured voluntarily, in Azerbaijan
# 27 May 2011 13:03 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. In 2010, near 50,000 used cars have been insurance on voluntary insurance type, in Azerbaijan, head of State Insurance Supervision Service Namiq Khalilov told APA.

According to him, near 900,000 cars were registered. This is a potential for development of voluntary car insurance in the future: “The purpose is to insure the cars 100% on “Compulsory Third-party Liability Insurance for Motor Vehicles””.

He noted that, the certificate on “Compulsory Third-party Liability Insurance for Motor Vehicles” insurance type had been added to list of required documents during the vehicle inspection, after the amendments and annexes in traffic rules.

Note that, the insured cars on voluntary insurance type made 5.6% total registered cars.
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