Experts Forecast Rise in Azerbaijani Travelers’ Insurance
Azerbaijan, Baku, 18 June / corr. Trend U.Ismayilova / Outlet of the insurance policy on the Azerbaijani outgoing tourists will increase by 30% within 2008, experts of MBASK, one of big insurance companies in Azerbaijan, said.
"Tourists do not treat this service as skeptical as it was earlier, because insurance payments do get paid very often now," experts said.
MBASK repaid over AZN 67,000 to tourists injured in the foreign countries in 2007.
MBASK specialists on medical insurance stated that during summer period tourist experience unfavorable situation by 2.5% times more often than in winter.
Sabir Guliyev, the head of the Private Insurance Department of MBASK, said that extraordinary incidents happening during the traveling have boosted the tourists' interest towards travel insurance. Anyway now people apply to insurers independently, even if a tourist company does not offer insurance policy.
Guliyev said that though earlier clients used to buy a minimal insurance package, required at the embassy while official registration of visa, but now they very often insist on broadening the service package.
"If earlier people regarded the insurance as unnecessary, now they apply to specify guidance insurance, insurance fees and at times, they want to increase it," Guliyev said.
MBASK, active in the Azerbaijani insurance market since 1992, offers 29 kinds of insurance services, including 4 obligatory. The company's authorized capital amounts to AZN 2mln. The European Bank for Reconstruction and Development (EBRD) holds 1/3% of MBASK shares since January 2005.
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