Azerbaijan Insurers Association determines plans for 2009

Business Materials 9 June 2009 13:41 (UTC +04:00)

Azerbaijan, Baku, June 9 / Trend , U.Ismayilova/

The Supervisory Board of the Azerbaijan Insurers Association adopted the Action Plan for 2009, the organization said on June 9.

During the discussions of the plan at the next meeting, it was decided that the Azerbaijani state commercial insurance company "Azersigorta" will develop a specific proposal on simplifying taxation of insurance agents.

Azerbaijani Insurers Association intends to apply the government for insurance agents to get benefits on VAT hitting 18 percent now, the association executive director Gafar MAjidov said earlier.  

At the meeting, it was decided to instruct lawyers of all insurance companies and the association members to develop specific proposals to solve problems with development of annual reports by insurance companies. Executive Body of the Association intends to apply to the Ministry of Communications and Information Technology to get a three-digit numbers for Call-center.

Call-center will be designed for insurers and insureds to address issues with the payment of insurance premiums, Majidov said.

In 2009, the Association will also apply to the International Finance Corporation to jointly develop a dictionary of insurance terms in the Azerbaijani language.

The meeting also decided to postpone the second Azerbaijani insurance forum, because it coincided with an international conference for the regulators of the insurance market, which is scheduled for July.

The Association plans to send its members a notice of payment of membership dues within a specified timetable.

Azerbaijani Insurers Association was established in December 2006. The association includes all operating insurers. Azerbaijani five insurance companies are represented in supervision council of the organization - MBASK, Standard Insurance, the International Insurance Company, Azersigorta, Ateshgah.

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