Azerbaijan, Baku, Feb.8 / Trend U.Ismayilova /
The Azerbaijani Risk Professional Association (ARPA) determined a new strategic direction to improve potential in the risk management, ARPA financial manager Vugar Gyushaev said today.
"At the first stage we will conduct training in all insurance companies being partners of the Azerbaijani Mortgage Fund (AMF) under the Central Bank of Azerbaijan (CBA)," Gyushaev said
The Association sent the contracts to these companies to start training. Training basically, will cover the work of insurance actuaries, Gyushaev said
ARPA is planning to invite foreign experts to review the experience in the insurance sector for the first series of educational workshops studying the problems in the insurance market, ARPA chairman Rufat Mahmud said
ARPA has held similar training for the banking sector so far.
At present, the leasing companies and energy sector are interested in the training.
The Association intends to invite these companies to be a member of the ARPA, which will allow the companies' specialists, at least, access to comprehensive knowledge in this area, participation in workshops, conferences, will provide "live" communication with professionals.
This will be the first step involving the specialists to enhance their knowledge in the risk management, he added
The ARPA has 100 members representing banking sector. ARPA can expand its rank through the national postal operator Azerpocht, who displays great interest in connection with access to the financial market.
ARPA was registered in May 2009 and is in process of institutional establishment by single founder Rufat Mahnmud.
Twenty eight insurance and one reinsurance company has been functioning in Azerbaijan. The AMF's insurance-partners are 15 companies including Azersığorta, Alfa Sıgorta, Atasıgorta, Ateshgah, Bashak-İnam, Beynelxalq Sıgorta, MBASK, Paşa Sigorta, Standard Insurance, Bakı Sıgorta, Xalq Sıgorta, Az Sıgorta, Qarant Sıgorta, A-Qroup Sıgorta, Ateshgah Heyat.
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