Ministry of Finance of Azerbaijan Reminds Insurance Companies of Their Obligations

Business Materials 13 February 2008 17:25 (UTC +04:00)

Azerbaijan, Baku, 13 February / Trend / The Ministry of Finance of Azerbaijan has upheld the appeal of physical and juridical persons, appealing the ministry against evasions of payments by the insurance companies, the Ministry of Finance said on 13 February.

Only after intervention of the Ministry, about 77,435 AZN were paid to the 16 insured.

The study conducted by the Ministry in summary 2007, revealed that the insurance companies had paid AZN 11,661 to the insured in 2007. The total sum of the payments, carried out after the intervention of the Ministry, totaled AZN 89,096.

At present, about 29 insurance companies are functioning in Azerbaijan. In 2007, the payments of the companies totaled AZN 35,620,000.