BAKU, Azerbaijan, April 15. Legislation requirements regarding reporting in the field of agrarian insurance were not observed, the first issue of the quarterly information bulletin of the Azerbaijan Chamber of Accounts "State Audit" for 2024 said, Trend reports.
"The data collected during the audit indicated that during the period covered by the audit, neither the Agrarian Insurance Fund nor the management body complied with the requirements of legal acts regulating reporting on insurance activities; the calculation of aggregate capital (the available amount of funds necessary to ensure financial stability and solvency of the insurer) was not ensured, which also means an underestimation of the financial stability and solvency of the insurer on agrarian insurance," the bulletin notes.
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