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ASA to operate on the basis of new regulations from 2012

14 September 2011 14:45 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. The Supervisory Board of the Association of Insurers of Azerbaijan (ASA) decided to develop new regulations of the organization, ASA executive director Azer Aliyev said.

To him, when new regulations is ready, it will be sent to the heads of all insurance companies: â€œWhen the opinions of the companies will be collected, the new regulations could be adopted at the regular meetings of the Supervisory Board. This process will continue until the end of the year, that is, from 2012 ASA will continue to operate on the basis of new regulations. All these cases are managed by legal committeeâ€.

Aliyev noted that the new regulations can also reflect the issue of increasing of the amount of membership fee for the insurance companies: â€œBut all such questions may be taken after the general discussion. Overall, the new regulations will be very different from the existing one, but it is too early to commentâ€.

Remind that, the ASA was established in December, 2006. Currently, it is member of 28 insurance companies. The membership fee is AZN 5 thousand per year.