BAKU, Azerbaijan, April 3
By Yusif Aghayev - Trend:
Azerbaijan’s ATA Insurance company registered more insurance claims within comprehensive motor vehicle insurance and compulsory motor vehicle liability insurance in March than in February, Orkhan Mammadov, chairman of the company’s board, told Trend.
"In February, 603 appeals were registered within these types of insurance,” chairman of board said. “Some 407 of them accounted for the cities of Baku and Sumgayit, and 196 - for districts of the country.”
“The number of registered appeals increased up to 737 cases in March,” Mammadov said. “Some 490 of them occurred in the cities of Baku and Sumgayit, and 247 in districts of the country."
“As part of compulsory motor vehicle liability insurance, compensation was paid in connection with six insurance cases for causing minor harm to the health, in connection with 16 insurance cases for causing moderate and great harm to the health and five insurance cases resulting in the death of people in February,” the chairman of board said. “The average amount of the paid insurance claims reached 1,060 manat ($623).”
In March, compensation was paid in connection with three insurance cases for causing minor harm to the health, in connection with eight insurance cases for causing moderate and great harm to the health and eight insurance cases resulting in death of people. The average amount of the paid insurance claims amounted to 1,010 manat ($594).
The vast majority of insurance cases were related to traffic accidents. They usually occurred in a period of intensive traffic on the roads during peak hours.
“Perhaps due to the introduction of a special quarantine regime in the country, the number of appeals related to the insurance cases within car insurance decreased in late March,” Mammadov added. “Taking into account the strengthening of this regime this month, this trend is likely to continue.”
ATA Insurance company has a license to carry out 30 types of insurance, namely, 26 voluntary types and four compulsory types.
Among the main types are property insurance, vehicle insurance, compulsory and voluntary liability insurance of vehicle owners, drivers and passengers against accidents, general liability insurance, insurance of cargo, insurance against construction risks, employer liability insurance, medical insurance, accident insurance, and bank risk insurance.
As of January 2020, the company collected insurance premiums in the amount of 2.8 million manat ($1.6 million) and paid insurance indemnities worth over 2 million manat ($1.2 million), ranking 10th among the Azerbaijani insurance companies.
Today, 22 insurance companies and one reinsurance company operate in Azerbaijan.
(1 USD = 1.7 AZN on April 3)