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Complaints against insurance companies in Azerbaijan increase in 2013

Business Materials 7 March 2014 16:40 (UTC +04:00)

Baku, Azerbaijan, March 7
By Abbas Akhundov - Trend:

The number of complaints received by the State Insurance Supervision Service under the Azerbaijani Ministry of Finance against the actions of insurance companies more than doubled in 2013, deputy head of the state service Mushfig Israfilov said on March 7 while speaking at an event in Baku dedicated to the results of activity of the Compulsory Insurance Bureau (ISB) in 2013 and its tasks in 2014.

The State Insurance Supervision Service received 738 complaints, around 438 of which were sent directly and 200 through the president's administration, 23 - through Milli Majlis (parliament) and 34 via the Cabinet of Ministers, according to Israfilov.

The majority of the complaints are related to an unreasonable refusal to pay, incorrect assessment of the damage and the long process of issuing refunds, according to Israfilov.

The State Insurance Supervision Service found the refusal of insurance companies to pay totally out 699,000 manat as being unreasonable in 2013 compared to 462,000 manat in 2012, according to Israfilov.

The official exchange rate on March 7 is 0.7844 AZN/USD.

Translated by L.Z.

Edited by S.M.

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