Azerbaijan, Baku, Feb. 5 / Trend , U. Ismayilova/
Insurers Association (AIA) intends to reduce membership dues by 20 percent as
part of anti-crisis measures, said AIA and MBASK president Jamil Malikov.
"The dues will be reduced from the current five to four thousand manats," said Malikov.
The issue will be considered at a general meeting of the AIA on Feb. 19. The meeting will also discuss the 2009 action plan.
The AIA 2008
action plan envisages legislation training sessions for top management of
insurance companies, AIA Education Committee activities, organization of AIA
committees' meetings, opening an Internet portal on insurance, creation of an
electronic insurance library (translation of literature into Azerbaijani
language), preparation, approval and execution of the AIA budget, monitoring membership
dues, distribution of information on AIA activities to AIA members.
will be held in 2009 to identify problems in the insurance industry, carry out work
with insurance companies to join AIA, with NGOs on issues of joint cooperation.
AIA's task is to develop relations with foreign insurers and their national and
international associations, establish business contacts, enable information
exchange and implementation of joint projects with the Insurance Association of
Russia, Ukraine and the German Union of Insurers.
Azerbaijan International Insurance Forum will be held in 2009.
Azerbaijan International Insurance Forum was held in Baku in July 2008. The
Forum was devoted to trends in the development of insurance market of Azerbaijan, impact of the experience of European countries' insurance markets on the development of
insurance sector in Azerbaijan, development of life insurance, analysis of the
insurance market of Azerbaijan as country's financial system and insurance corporate
Azerbaijan Insurers Association of unites all operating insurance companies. AIA was founded in December 2006.
On Feb. 5, the official exchange rate is 0.808 manat to $1.
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