Baku, Azerbaijan, Oct. 3
By Azad Hasanli - Trend:
The Azerbaijani insurance companies wrote 9,405 policies for compulsory real estate insurance in September 2014, which is 48.5 percent more than in September 2013. The fees on insurance contracts amounted to 997,689 AZN, according to a statement posted on the website of the Azerbaijani Compulsory Insurance Bureau.
The bureau was created in accordance with the law "On compulsory types of insurance". The insurance companies started using it on December 16, 2011.
Besides the compulsory insurance of vehicle owners' liability, the law regulates the compulsory real estate insurance, liability in the operation of real estate, as well as passengers.
Housing was insured in 75.7 percent of insurance policy, administrative buildings - 0.44 percent, other real estate - 23.86 percent, according to the statement.
Around 225 contracts on compulsory insurance of liability in the operation of the real estate were signed in August, while fees on them amounted to 18,700 AZN, on compulsory insurance of passengers - 142 contracts (31,800 AZN).
During the reporting period, the number of contracts of compulsory insurance of liability in the operation of real estate increased by 14.21 percent compared to the same month of the previous year.
In general, some 112,888 insurance contracts, which have collected insurance premiums in the amount of 11.4 million AZN have been concluded in January-September 2014 on real estate compulsory insurance. The largest number of contracts on compulsory insurance of real estate was concluded in Baku (31,965), Sumgait (7,461), Ganja (6,569), Astara (3,285), Salyan (3,045) and Agstafa (2,615) districts. The smallest number of contracts was concluded in Naftalan (72), Djabrail (93), Khizi (11), Siyazan (298), Gobustan (313) and Gakh (383) districts.
During January-September 2014 the Bureau had registered 217 insurance claims and made payments amounting to almost 450,000 AZN on the contracts on compulsory insurance of immovable property, formalized with the help of an information system, starting from July 20, 2013.
Around 15 companies are participants of the Compulsory Insurance Bureau in Azerbaijan.
The official exchange rate for October 3 is 0, 7844 AZN / USD.