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Obligatory car insurance sharply increases in Azerbaijan

18 August 2012 10:21 (UTC +04:00)

Baku. Elnur Huseynguliyev â€“ APA-Economics. The total amount of insurance fee received from the voluntary car insurance in Azerbaijan during January-July period made AZN 31,701 thousands, this figure increased by 32% in comparison with last year.

According to researches conducted by APA-Economics, the amount of payments given in accordance with traffic accidents (according to voluntary insurance) reached 31%, thus AZN 12,467 thousands.

Besides it, the amount of insurance fee received from â€œObligatory insurance of civil responsibility of auto transport meansâ€™ ownersâ€ made AZN 41,095 thousands, this figure in the same insurance type was AZN 15,3 thousands last year. The amount of payments receiver from obligatory car insurance increased by 3 times this year and reached AZN 1,729 thousands.

Note that the special weight of insurance fees received from voluntary car insurance made 16%, 20% fall on obligatory car insurance. The reasons of insurance fees increasing received from the obligatory car insurance in comparison with the previous years was the adoption of law on â€œObligatory car insuranceâ€ and the sharp increase was observed in insurance fees coming according to the engineâ€™s power.

The conducted researches identified that most insurance fees fall on such International Insurance Companies as â€œAXA MBASKâ€, â€œAtashgah sigortaâ€, â€œStandard Insuranceâ€, â€œAzarsigortaâ€, â€œAzSigortaâ€.

Note that the amount of insurance fees received by insurance companies in Azerbaijan during January-July period made AZN 201,509 thousands, the amount of payments was AZN 49,469 thousands.