Finance

Finance

Azerbaijani companies try to protect themselves from fraudulent activities of staff

12 December 2011 10:06 (UTC +04:00)

The Finance Ministry says AZN 382.3 thousand was collected in January-October, 2011, through insurance fraud of the staff.

During the reporting period, the insured organizations from such cases has been paid AZN 6,600. Insurance companies expressed that especially banks show great interest to this type of insurance. Availability of payments on this type of insurance shows that the concern of banks is already warranted.

Another type of insurance to which banks are interested, refers to the risk of falsification of documents. Thus, AZN 17.2 mln was collected on this type of insurance from the beginning of the year.

Data on insurance premiums show reduction of the risk of default on loans. For example, credit insurance for 10 months collected AZN 110 thousand, which is 2.6 times less compared to last year.

Interest in professional liability insurance has decreased too. If, for this type of insurance for 10 months, last year, was collected AZN 116.7 thousand, during the reporting period of 2011, this figure decreased by 2.8 times. The insurance companies say this type of insurance mainly interesting for doctors and auditors.