Azerbaijan, Baku, Sept.30 / Trend, A.Akhundov /
The Azerbaijani Insurers Association (AIA) may set differentiated membership fees, AIA executive director Azer Aliyev told journalists.
"By late 2011, AIA will adopt a new charter, which will also take into account increasing membership fees. But now one can not say definitely whether this increase will affect all or fees will be differentiated depending on companies' interest in the AIA's activity. Additional costs are required for market studies and such activities as International Insurance Forum.
Increase in fees can affect those companies that are interested in it," Aliyev said.
Today, membership fee is the same for all companies and it hits 5,000 manat.
Aliyev said now Juridical Committee continues to work on the charter.
"Until mid-October a draft charter should be prepared, which we will send to the company, and we need a month to get comments from them, and another month for its approval. By late 2011 the charter will be adopted," Aliyev said.
There are 28 insurance and one reinsurance company. Fidan Sıgorta insurance company's license for insurance services has been temporarily suspended. All companies are members of the Association.