New mechanism to improve agricultural insurance developed in Azerbaijan
Azerbaijan, Baku, August 6 /Trend, U.Ismayilova/
State insurance supervision department under the Ministry of Finance of Azerbaijan develops proposals for improvement of the mechanism of insurance of agriculture, the head of State insurance supervision department Namik Khalilov said on August 6.
"Developing a new mechanism has become more urgent due to natural disasters that have taken place since the beginning of the year - floods, fires, etc.," Khalilov said.
According to him, upon completion of the development proposals will be submitted for approval to the Cabinet of Ministers of Azerbaijan.
Khalilov also said that local insurers do not pay attention to this type of insurance because of the high level of risk, and the developed proposals will provide further impetus to the development of agricultural insurance in Azerbaijan.