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Ministry of Finance grants insurance agent licence to Azerpocht

02 August 2012 09:25 (UTC +04:00)

According to Azerpocht, it has signed contract with Ateshgah and AtaSigorta insurance companies on development and reliable implementation of insurance, protection of rights of insurers and insured persons, provision of financial stability of insurers and regulation of other insurance issues.

â€œThe insurance of citizens are paid attention in all countries of the world, especially developed countries. These include from health insurance to property and life insurance. According to new compulsory insurance law the injury for human and healthy during car insurance makes AZN 50,000 or AZN 5,000, for property damage â€“ AZN 20,000. There is not any case to refuse insurance payments. The insured person will get compensation of damage in any caseâ€, Azerpocht told APA.

LLC also says according to new law, the passenger can get insurance premium not depending on existing of ticket. That is, all passengers injured during accident will benefit from insurance. This rule belongs to air, water, railway and motor transport. Minimum insurance premium fore real estate was determined. So, according to compulsory insurance law, list of risks insured during the insurance of real estate was extended. For example, compulsory insurance of property includes individualsâ€™ houses, residential houses. Insurance sum for Baku is AZN 25,000, for Ganja, Sumgayit and Nakhchivan â€“ AZN 20,000, for other places â€“ AZN 15,000. Insurance premiums are relevantly AZN 50, AZN 40 and AZN 30.

Insurance premiums of property of the persons receiving targeted social assistance on compulsory insurance will be paid by the state budget. There is no time limitation for insurance of residential places areas and houses with â€œcompulsory insurance bo real estateâ€. Note that, the fulfilment of this law has started since December 16, 2011â€.