Azerbaijani Company to Provide Services on Construction/Engineering Work Insurance

Business Materials 14 February 2008 13:27 (UTC +04:00)

Azerbaijan, Baku, 14 February / Trend corr. U.Ismaylova / One of the largest insurance companies of Azerbaijan Az Sigorta is to cooperate with local construction companies in order to introduce insurance relating to construction/engineering in the country, Khayal Mammadkhanli, the deputy chairman of the company, stated.

The risks which occur during construction work have encouraged the company to introduce the construction/Engineering insurance. In August 2007, the constructed 16-storey building collapsed in one of the central streets of Azerbaijan. According to information by the Ministry of Labour and Social Protection of Azerbaijan, 70 people died in the construction sector of Azerbaijan in 2007.

Mammadkhanli said that the company would begin to insure risks of construction-erection work after carrying out inspections in the market.

In 2007, Az Sigorta became one of the leading insurance companies with a total of AZN 5mln.

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