BAKU, Azerbaijan, January 26. Azerbaijan has approved the "Form and rule of filling out licenses for insurance, reinsurance, insurance agent and insurance broker activities, as well as an actuarial certificate", Trend reports.
According to the information the relevant decision was signed by the chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov.
This rule is elaborated by the Law "On Insurance Activity" and determines the form and rule of filling out licenses for insurance, reinsurance, activities of insurance agents and insurance brokers, as well as actuarial certificates.
The form of license and certificate shall be filled in by the CBA in the following procedure:
- the date of issue and registration number of the license and certificate shall be recorded;
- the license shall specify the name of the type of activity permitted;
- the license shall state the name of the legal entity that is allowed to carry out the relevant type of activity, the identification number and legal address of the taxpayer, name, surname, patronymic of the natural person, identification number of the taxpayer, and address where he is registered, and the certificate shall identify the name, surname, patronymic and address of the natural person, where he is registered, to whom the right to carry out actuarial activity is assigned;
- the validity period of the certificate shall be specified (with an indication of the start and end dates), the day of certification shall be marked as the start date of the validity period of the certificate, and the end date shall be 5 (five) years from the date of certification.
The license and certificate must be signed by the authorized person of the Central Bank, indicating his/her name, surname, and position, and certified by the seal.
While updating the license and certificate in case of its theft, loss, unusability or destruction, the word "duplicate" shall be written in big letters in the upper right corner.
No corrections shall be made in the completion of the license and certificate. Such licenses and certificates are invalid.
Stay up to date with more news on Trend News Agency's WhatsApp channel