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Compulsory insurance of labor ability loss increases in Azerbaijan

Business Materials 17 October 2011 22:36 (UTC +04:00)

Azerbaijan, Baku, Oct. 17 /Trend, A.Akhundov/

In January-September 2011, the premiums of Azerbaijani insurance companies on compulsory insurance of labor ability loss in production amounted to 16.34 million manat, which is 10.1 percent more than January-August, the Finance Ministry of Azerbaijan reported.

This insurance has been introduced in Azerbaijan since December 2010.

The premiums in January-August rose by 2.13 percent compared with January-July, in July compared with January-June - 12.3 percent, in June compared with January-May - 8 35 percent, in May compared with January-April - 37.12 percent, in April compared with January-March - 46.13 percent, in March compared with January-February - three times .

Over the first nine months of the year, for this type of insurance, the companies paid 152,200 manat, which exceeds the amount of payments in January-July by 42.5 percent.

There are three life insurance companies that are licensed to provide services of this kind in Azerbaijan - Atesgah Heyat, Qala Heyat and Pasa Həyat.

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