Azerbaijan, Baku, 3 November / Trend corr. U.Ismayilova / The Azerbaijan Insurers Association jointly with Oscar Joici, Professor of applied sciences of Cologne Institute, will conduct joint work to stimulate development of insurance education in the country, Gafar Majidov, the executive director of the Association, said on 3 November.
"Negotiations on the joint work will take place by the end of 2008," Majidov said.
According to Majidov, the joint work means announcement of competition on the best paper on insurance, which is designated for students at the first stage and for participants of the insurance market in future, as well.
There is not any separate insurance university in Azerbaijan and the only faculty - organization of insurance functions at the Azerbaijan State Construction and Architecture University, which will graduate the first specialists only in 2008.
Winners of the competition will get opportunity to attend trainings at German universities, where insurance is taught and prize at €2,000 amount, Majidov said. The Association cannot realize such measures alone. Therefore, a decision has been made jointly to stimulate development of insurance in Azerbaijan.
"Winners of the competition will get opportunity to practice in insurance companies at world level, as well," Majidov said.
The Association of Insurance Companies of Azerbaijan was established in December 2006. The Supervisory Board of the Association comprises five companies, including MBASK, Standard Insurance, International Insurance Company, Azersigorta and Ateshgah. Jamil Malikov, the head of Board of MBASK is the chairman of the Supervisory Board.
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