BAKU, Azerbaijan, July 17. The Central Bank of Azerbaijan (CBA) received appeals from about 2,800 citizens on 90,000 insured events during the year, Director General of the CBA Ziya Aliyev said at the conference on "Methods of Successful Resolution of Insurance Disputes,", Trend reports.
According to him, most of the appeals are related to compulsory insurance, especially compulsory civil liability insurance.
"This has an objective reason. Compulsory auto insurance is more common. Half of insurance complaints are related to damage assessment, and the rest are related to payment delay, refusal to pay, and requests for additional documents. The introduction of direct regulation of compensation for damages related to compulsory civil liability insurance has led to a reduction in insured events," he stressed.
Aliyev noted that the introduction of direct regulation of losses associated with compulsory auto insurance has reduced the number of insurance complaints.
"Over the past nine months since the introduction of the new rule, the Central Bank has received 75 complaints. In 70 percent of surveys conducted in connection with this, insurers expressed satisfaction with the services," he added.
On October 20, 2022, the CBA decided to publish an index of complaints in order to increase consumer awareness and improve the activities of insurers in relation to consumers in the field of compulsory auto insurance. The 'Complaint Index' is calculated for each insurer based on data obtained in the last year from the date of publication and will be updated on a monthly basis.