Azerbaijan, Baku / Trend corr U. Ismayilova / The Parliamentary Commission on Economic Policy will begin discussing the Bill on Insurance on 18 September, a department head at the State Insurance Control of Azerbaijan Finance Ministry, Namig Khalilov, said on 14 September.
"We hope the Parliament will adopt the Bill during its autumn session," he said.
The acting Bill on Insurance was adopted in 1997.
In compliance with the old Bill, the authorized capital of insurance companies must make up AZN 700,000. But the new Bill stipulates for the authorized capital to comprise AZN 1mln by 1 January 2008.
There are twenty-nine insurance companies operating in Azerbaijan.