Domestic tourism not profitable for insurance in Azerbaijan
Azerbaijan, Baku, July 20 / Trend U. Ismayilova /
Insurance of Azerbaijani domestic tourism can be developed as a result of significant growth of these polices sale, head of agency of the state insurance control of the ministry of finance Namik Khalilov said on July 20.
"Presently, this kind of insurance is not well developed and does not give much profit in Azerbaijan," Khalilov said.
He said that if insurance policy for domestic tourism worth 6 manat, expenses on documents will hit 2 manat. It is too much.
Insurance of tourism has mainly marketing character to draw insurers in Azerbaijan, Khalilov said.
Insurance of domestic tourism is not obligatory in Azerbaijan. But insurance of people leaving the country is obligatory. Average price of this polis hits 50 manat depending on distance and offered services.
Roughly 28 insurance and 1 re-insurance companies operate in Azerbaijan. According to the Azerbaijani ministry of finances, roughly 58.46 million manat of insurance premiums given payment of 15.23 million manat were collected in January-April.
On July 20, the official exchange rate is 0.8041 manat to $1.
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