Baku, Azerbaijan, Sept.4
By Farid Rzayev - Trend:
Payments were made for 1,810 claims on compulsory insurance of civil liability of vehicle owners (CTP) in Azerbaijan totaling over 2.3 million AZN in August 2014, the Compulsory Insurance Bureau of Azerbaijan said Sept.3.
Over 2.28 million AZN was paid for 1,497 claims in July.
The table reflects data (in accordance with the type of damage) on the number and amount of insurance payments under the requirements exposed to insurers:
|
Damage to motor vehicle |
Damage to property |
Damage to health |
In connection with the death of a person |
Total |
|||||
|
Quantity |
Sum |
Quantity |
Sum |
Quantity |
Sum |
Quantity |
Sum |
Quantity |
Sum |
|
1,735 |
2,164 340 |
24 |
29 408 |
38 |
43 050 |
13 |
65,000 |
1,810 |
2,301 798 |
The volume of payments in August 2014 was 0.84 percent more than in July.
The Compulsory Insurance Bureau includes 15 companies.
After the law 'On compulsory insurance' came into force in December 2011, the basic cost of an insurance policy on CTP amounts to 50 AZN and is used in regard to cars with an engine capacity of up to 1500 cubic centimeters. With the increasing volume of the engine (from 1,500 to 5,000 cubic centimeters), coefficients from 1.5 to five are added up to the cost. Coefficient five is used for cars with an engine capacity of over 5,000 cubic centimeters.
Previously, the insurance premium for all passenger cars was 10 AZN.
The contract with the owners of vehicles registered abroad and imported to Azerbaijan for transit purposes is signed for a period of one month or a year.
The official exchange rate on Sept.4 is 0.7844 AZN/USD.
Edited by CN