The Central Bank of Azerbaijan is preparing amendments to compulsory insurance regulations, Vusal Gurbanov, Director General of the Central Bank of Azerbaijan, told journalists on the sidelines of the 11th Azerbaijan International Insurance Forum (AIIF-2026), APA-Economics reports.
According to him, improvement work is currently being carried out on several types of compulsory insurance in the country.
Vusal Gurbanov stated that the amendments primarily concern compulsory personal accident insurance.
“We are studying international experience and have also taken these aspects into account within the framework of the concept being prepared,” he noted.
According to the CBA official, certain amendments to the legislation on compulsory insurance of civil liability of vehicle owners.
Vusal Gurbanov said that the insurance limit established for damage caused to the property of third parties under this type of insurance currently operates on the basis of an automatically restored mechanism.
“After an insurance payment is made as a result of an incident, the limit is not reduced to zero and is restored to its previous level. This is a feature that distinguishes it from other insurance products,” he stressed.
According to him, in other insurance products, after a payment is made, the total insurance limit is reduced by the amount of compensation paid.
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