Motor insurance segment predicted to plunge in Azerbaijan

Motor insurance segment predicted to plunge in Azerbaijan
# 12 December 2008 10:01 (UTC +04:00)
The figure accounts for 32.5% of the total insurance premiums earned in the insurance sector, said the Ministry of Finance.
The ministry said car insurance claims reached AZN 13.9 million or 37.8% of the total claims in the insurance industry.
The auto insurance is voluntary type of insurance in the country.
Auto insurance is required by banks when they lend a car loan.
Experts predict receipts from auto insurance will decline amid some problems emerging in the banking sector.
The banks have recently limited consumer and car loans. This measure is expected to harm the car insurance segment.


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