Finance

Finance

International Insurance Forum kicks off in Baku - PHOTOSESSION - VIDEO - UPDATED

International Insurance Forum kicks off in Baku - <font color=red>PHOTOSESSION - VIDEO - UPDATED</font>

04 July 2012 11:01 (UTC +04:00)

Two-day forum has been dedicated to the insurance and reinsurance markets, focused on the main development trends and perspectives within the Region. Organizers of the forum - Azerbaijan Insurers Association (ASA), State Insurance Supervision Service under the FinMinistry and Romanian Media XPRIMM company. The official media partner of the event is APA Information Agency.

Delivering speech at the event, Deputy FinMinister Azer Bayramov said that a number of measures were carried out in Azerbaijan during the past years in the field of protection of consumer rights: â€˜This process began in Azerbaijan in 2006 and since that same year new legislation and other documents have been adopted in the insurance sector. For example, in 2010, laws were passed on Compulsory Insurance against Industrial Accidents & Occupational Diseases and on Compulsory insurance. In addition, insurance companies created software, through which it is possible to eliminate problems that can occur in e-order of certificatesâ€™.

Chairman of the Economic Policy Committee of the Parliament Ziyad Samadzadeh spoke about the history and level of development of the insurance market in Azerbaijan.

In his speech, President of Media XPRÄ°MM Sergiu Costache noted that in terms of development of the insurance market, Azerbaijan could become a model for other states in the region.

Board chairman of AzRe Tekrarsigorta company Chingiz Mehdiyev spoke about spoke about the situation of the insurance market in the region and pace of development of insurance in Azerbaijan.

The Forum represents an efficient platform for interactive discussions between representatives and aims to strengthen the collaborations among national markets in the insurance field. Also, itâ€™s a unique opportunity to exchange experience and set up business meetings in order to develop partnership relations and to find more about the potential and wide investment possibilities in the sphere of insurance within the region. Moreover, top managers of national insurance, reinsurance and brokerage companies from Caucasian Region, Middle Asia, Europe, Turkey, Russia and CIS will attend the event, thus making it an excellent networking opportunity within these selected areas.

International Insurance Forum is held every year in Baku since 2009. II International Insurance Forum was held last year on July 7-8.

Remind that, ASA was established in December of 2006. Currently, 28 insurance companies are member of the organization.