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More than 1.8 million people insured their lives in Azerbaijan

14 May 2013 11:26 (UTC +04:00)

Baku. Kamala Guliyeva – APA. The Azerbaijan Parliament has today discussed the amendments to the draft law “On compulsory insurances”. APA reports that chairman of the parliaments committee on economic policy Ziyad Samadzadeh informed about the amendments.

Samadzadeh said that compared to 2010, in 2012 compulsory insurance doubled and reached AZN 350 mln, per capita indicator made AZN 37. At present, 1.8 million people have insured their lives in the country. The number of insured cars is more than 1 million, residential and non-residential buildings more than 233 000.

According to the draft amendments, if the driver, passenger or pedestrian dies as a result of the traffic accident, which can be considered the case of insurance, the insurer that insured the property of the owner of the vehicle, is to pay compensation equal to 20% of the insurance amount to the family of the person within two working days after having got the certificate confirming this fact and the copy of the death certificate. If the fact of property responsibility of the owner of the vehicle is determined, the rest of the insurance payment will be paid as set by the law. If the fact of property responsibility of the owner of the vehicle is not determined, with the exception of pedestrian run over, subrogation right appears against the person, who caused the damage, or the insurer, who insured his property responsibility.

The draft amendments were adopted after the discussions.