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Some 100,000 people insured against labor ability loss in production in Azerbaijan

Business Materials 27 May 2011 18:20
Some 100,000 people have been insured through compulsory insurance on labor ability loss in production in Azerbaijan, Chief of the State Insurance Supervision Service under the Azerbaijani Finance Ministry Namig Khalilov told journalists on Friday.

Azerbaijan, Baku, May 27 / Trend A.Akhundov /

Some 100,000 people have been insured through compulsory insurance on labor ability loss in production in Azerbaijan, Chief of the State Insurance Supervision Service under the Azerbaijani Finance Ministry Namig Khalilov told journalists on Friday.

"The insurance companies already receive appeals on insurance cases of this kind, and payouts have already begun," Khalilov said.

The application of the law on the compulsory insurance on labor ability loss in production began in December 2010.

The law regulates and sets the framework of legal, economic, institutional relations in the field of compulsory insurance of citizens from labor ability loss in production.

The Azerbaijani insurance companies' premiums on compulsory insurance on labor ability loss in production amounted to eight million manat in January-April, the Azerbaijani Finance Ministry reported.

The figure increased by 46.13 compared to January-March.

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