Azerbaijan, Baku, Feb. 23 / Trend A. Akhundov /
The compulsory insurance bureau was established in Azerbaijan in December last year, in accordance with the requirements of the new law on "Mandatory types of insurance". It is working to coordinate its information system with electronic information systems of the Interior Ministry, the Ministry of Taxes and the State Migration Service, the bureau told Trend today.
"The agreement on compulsory insurance in the form of compulsory insurance of liability of vehicle owners in Azerbaijan is valid when it is concluded via the information system of the bureau," the bureau said. "It is in the database of the system. The information system already exists. Its use is ensured by the Bureau."
More than 54,000 contracts have been concluded via the bureau's information system on compulsory insurance of liability of vehicle owners since December 16, 2011.
The Azerbaijani State Insurance Commercial Company, Pasa Sıgorta, Atesgah Sıgorta, Ata Sıgorta, AXA MBASK, Xalq Sıgorta, Standard Insurance, AzSıgorta and Alfa Sıgorta are the members of the bureau.
The official exchange rate is 0.7864 AZN/USD on Feb. 23.