Another Azerbaijani company may insure cars abroad
Baku, Azerbaijan, August 27
By Azad Hasanli – Trend:
Azerbaijani Gunay Insurance company has been included in the register of insurers that can operate within the Green Card system, the Compulsory Insurance Bureau of Azerbaijan said.
Green Card system was launched in Azerbaijan in 2016. Some 14 insurance companies have the joined the system in the country.
The Green Card international system of motor insurance has been functioning since 1951. Its main objective is the settlement of claims of victims of road accidents, in accordance with the national legislation of the country where the accident occurred, with the participation of foreign motorists.
This objective is stated in the agreement "On the Green Card", insurance policy for civil liability of motor vehicles, issued by any member state of the agreement and remains valid in any other country that is a member of the agreement.
The National Bureau of Green Card is made up of a united organization - the Council of Insurance Bureaus, with headquarters in Brussels, and operates under the auspices of the Working Party on Road Transport of the Inland Transport Committee of the UN Economic Commission for Europe.
The Green Card system includes 48 countries: Russia, the whole Europe, as well as Israel, Morocco, Tunisia and Iran.
Compulsory Insurance Bureau fulfills functions of the National Insurance Bureau of the Green Card international system in Azerbaijan.
Compulsory Insurance Bureau includes 16 companies, 13 of which are entitled to sell compulsory third party liability insurance policies.