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Buta Sigorta to start services on compulsory insurance

31 August 2012 10:55 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. In the coming days, Buta SÄ±gorta company will be a member of the Bureau of Compulsory Insurance. Borad Chairman of the company Abbas Babayev told APA-ECONOMICS.

All necessary documents have already been presented to the Bureau. After payment of security deposit, the company will start sale of insuracne policies on â€˜Civil liability insurance of vehicle ownersâ€™, â€˜Compulsory insurance of real estateâ€™, and â€˜Compulsory insurance of civil liability exploitation of real estateâ€™.

Remind that, the Bureau of Compulsory Insurance was established in 2011. As a one-time membership fee to the office on â€˜Civil liability insurance of vehicle ownersâ€™ for each company is AZN 200,000, on â€˜Compulsory insurance of real estateâ€™, and â€˜Compulsory insurance of civil liability exploitation of real estateâ€™ â€“ is AZN 100,000. At present, the Bureau has 12 members.

Note that, Buta Sigorta founded by local entities in 1996. In July, 2012, the company changed the brand into Buta Sigorta. Currently, the authorized capital of the company makes AZN 5.8 mln.