Azerbaijani insurer wants to develop labor insurance
Azerbaijan, Baku, July 8 / Trend U.Ismayilova /
The state-owned Azersigorta said this week that five insurance companies should be selected to to provide compulsory labor loss production insurance.
"Five companies should be selected to provide these services," Azersigorta Deputy Chairman Aftandil Hajiyev said. "It would be much more effective."
Hajiyev said Azersigorta, which focuses on compulsory insurance, said insurers frequently annul their insurance policies and approach other insurance companies.
"I think five companies specializing in life insurance should be selected," Hajiyev said.
The maximum compulsory labor loss production insurance is two percent of the salary fund. Tariffs will be differentiated according to various sectors.
Azerbaijani Finance Ministry State Insurance Supervision Department head Namig Khalilov said four insurance companies - Pasha Sigorta, Ateshgah Life, Standard Insurance, and Ata Sigorta - have the right to offer life insurance in Azerbaijan.