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More vehicles get insured in Azerbaijan

Business Materials 3 May 2017 15:54 (UTC +04:00)

Baku, Azerbaijan, May 3

By Anvar Mammadov – Trend:

In April 2017 insurance companies of Azerbaijan, which are the members of the Green Card international motor insurance system, issued 1,470 international insurance policies for vehicles, the Compulsory Insurance Bureau of Azerbaijan (ISB) reported May 3.

The number of insurance policies increased 3.8 times compared to the same period last year.

The insurance premiums on these contracts exceeded 107,500 manats, which is 32 percent more than in the same period of 2016.

As many as 1,162 of the signed contracts accounted for insurance of cars, 166 - trucks, 134 - trailers, 7 - buses, one - motorcycles.

The Green Card system has been functioning since 1951. The system has become operational in Azerbaijan since January 1, 2016. Its main objective is the settlement of claims of victims of road accidents involving foreign vehicles, in accordance with the national legislation of a country where the accident occurred.

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