Association of Insurers of Azerbaijan Approves 2009Action  Plan

Business Materials 26 September 2008 20:26 (UTC +04:00)

Azerbaijan, Baku, 26 September/corr. Trend U.Ismayilova/The Association of Insurers of Azerbaijan (AIA) approved the 2009 action plan at the general meeting this week, the executive director of the Association Gafar Mejidov said.

"12 measures for the next year were approved at the meeting", Mejidov said.

He said that the action plan includes organizing training for top-management of the insurance companies on following subjects: the Law on Insurance Activity, organizing trainings for the insurance workers, organizing work of AIA committee on education and training and organizational technical provision of  AIA committee sessions, starting the Internet portal of insurance knowledge, establishment of online library on insurance (translation of literature into Azeri), preparation, confirmation and fulfillment of AIA budget. Control of membership fees entrance, realization of distribution of informational and other materials regarding AIA activity directions to AIA members.   

Moreover, the second annual Azerbaijani International Insurance Forum will be conducted next year, Mejidov said.

The first international Azerbaijani insurance forum was conducted in July in Baku. The forum was dedicated to the tendencies of development of the country's insurance market, impact of the  European countries insurance market experience on development of the insurance sector in Azerbaijan, development of life insurance, analysis of Azerbaijani insurance market as the country's financial system and corporative management in insurance. 

The Association of Azerbaijani Insurers, the Supervisory Board of which includes 5 companies (MBASK, Standard Insurance, International Insurance Company, AzerSigorta, Ateshgah) was established in December 2006. The members of AIA are all acting insurance companies, today they number is 30. Despite that Azer-Asia and Gorgud Sigorta companies stopped their activity because of liquidation of their license by the Ministry of Finance, they are still the members of the Association.

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