BAKU, Azerbaijan, January 12. The Board of the Central Bank of Azerbaijan (CBA) has amended the ‘additional requirements for permission to carry out compulsory insurance types’, approved by the board’s decree dated February 4, 2022, Trend reports via the united database of standard legal acts (e-qanun.az) of the Ministry of Justice.
The relevant decision was signed by CBA Governor Taleh Kazimov.
According to the amendments to Article 4.1 of the requirements, in order to be admitted to the implementation of compulsory civil liability insurance of motor vehicle owners (OSAGO), the insurer must be able to conclude an appropriate compulsory insurance contract with insurees through its official website.
Besides, insurers having permission to carry out OSAGO as of the date of entry into force of paragraph 4.1 of the requirements must bring the technical capabilities of their official website into line with the above part within 10 days.
The CBA Legal Department was instructed to submit a new decision to the Ministry of Justice within three days for inclusion in the State Registry of Legal Acts.