Finance

Finance

FinMinistry reveals serious shortcomings in activities of Alfa Sigorta and Standard Insurance

05 July 2012 08:46 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. During inspections on measures carried out by the FinMinistry for stimulation of potential customers by the companies at compulsory car insurance market, the Ministry revealed serious shortcomings in activities of Alfa Sigorta and Standard Insurance.

The State Insurance Supervision Service under the FinMinistry told APA that insurance companies have been repeatedly warned in connection with holding of encouraging ad charts and campaigns on Compulsory insurance of civil liability of motor vehicle owners: â€˜The legislation does not allow holding of encouraging campaigns. But some insurance companies have not paid attention to Ministryâ€™s warningâ€™.

The State Insurance Supervision Service says that as that warning had not achieved any results, the Service started inspections at insurance companies in Baku and region. The inspections revealed serious shortcomings in activities of Alfa Sigorta and Standard Insurance. That is why Alfa Sigortaâ€™s license on compulsory car insurance has been deleted.