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Casco insurance continues to fall in Azerbaijan

23 February 2015 13:59 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. The serious growth in the insurance types in January, 2015, was recorded in the compulsory personal accident insurance of passengers.

According to the chairman of Azerbaijan Insurers Association Orkhan Bayramov, the premiums from this type of insurance rose 9.4 times to AZN 9,800. Moreover, charges in fraudulent acts of employees increased 6.3 times to AZN 219,100, compulsory real estate insurance raised 6 times to AZN 4.1 mln.

Premiums from death insurance grew 89.4% to AZN 1.6 mln, incurable diseases 55.4% to AZN 12,600, personal accident and sickness (medical) insurance 31.6% to AZN 1.2 mln, property insurance against fire and other perils 2.2 times to AZN 4.1 mln, Compulsory insurance against occupational disability resulting from occupational accidents and diseases 92.1% to AZN 2.5 mln, compulsory insurance of civil liability related to real estate 42.9% to AZN 49,400, compulsory insurance civil liability of vehicle owners 33.54% to AZN 5.1 mln.

The most serious decline in was recorded in the insurance against risks on suspension of work. These premiums fell 100%. Moreover, premiums on insurance of professional liability dropped 82.7% to AZN 2,900, on living insurance declined 63.3% to AZN 4.1 mln.

Premiums in health insurance descended 3.4% to AZN 26.7 mln, casco insurance 7.6% to AZN 3.1 mln, voluntary insurance of civil liability of vehicle owners 26.7% to AZN 111,100.

The most serious growth in the insurance payments was recorded in the insurance of citizens travelling abroad. These payments increased 13.6 times to AZN 26,000. Moreover, payment on death insurance rose 4.4 times to AZN 240,700, cargo insurance 3.6 times to AZN 79,600.

Payments in health insurance surged 68.8% to AZN 4 mln, property insurance against fire and other perils grew 64.9% to AZN 341,600, casco insurance rose 15.2% to AZN 2.36 mln, compulsory insurance of civil liability of vehicle owners 24.7% to AZN 2.15 mln.

Payments in voluntary insurance of civil liability of vehicle owners fell 94.6% to AZN 4,800, insurance of civil liability dropped 72.8% to AZN 14,200, living insurance shed 64% to AZN 257,300.

Payments on personal accident and sickness (medical) insurance fell 7.4% to AZN 86,200, compulsory insurance against occupational disability resulting from occupational accidents and diseases 17.5% to AZN 151,900, compulsory real estate insurance 51.7% to AZN 64,700.