Finance

Finance

AzSÄ±ÄŸorta to start sale of policies on compulsory insurance types

26 December 2011 09:49 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. From January, AzSigorta will start sale of insurance policies on newly-approved compulsory insurance types, said deputy board chairman Vasif Zakirov.

To him, due to application of â€œMotor vehicle liability insuranceâ€, â€œProperty insuranceâ€ and â€œCompulsory insurance of civil liability of owners of real propertyâ€, the company became member of the Bureau of Compulsory Insurance. It paid AZN 200,000 for Bureau membership, AZN 200,000 â€“ â€œMotor vehicle liability compulsory insuranceâ€, AZN 100,000 â€“ Compulsory insurance of real estateâ€, AZN 100,000 - â€œCompulsory insurance of civil liability of owners of real propertyâ€.

â€œThe sale will start in January of 2012. Postponement of the sale is connected with technical preparation works at the Bureauâ€, he added.

Note that, the law on â€œCompulsory insuranceâ€ has started to be applied on December 16, 2011.

Remind that, AzSigorta started to operate in 2006. It operates 7 branches and more than 40 representations across the republic. The company renders service on 25 voluntary and 3 compulsory insurance types.