More vehicles get insured in Azerbaijan
Baku, Azerbaijan, June 2
By Anvar Mammadov – Trend:
In May 2017, Azerbaijan's insurance companies that are members of the Green Card international motor insurance system, issued 2,604 international insurance policies for vehicles, the Compulsory Insurance Bureau of Azerbaijan (ISB) said June 2.
The number of issued insurance policies increased by almost 3.6 times compared to the same period last year. The insurance premiums on these contracts amounted to about 166,490 manats, which is 1.9 times more than in the same period of 2016.
As many as 2,144 of the signed contracts accounted for insurance of cars, 232 - trucks, 204 - trailers, 17 - buses and 7 - for insurance of motorcycles.
The Green Card system has been functioning since 1951. The system became operational in Azerbaijan in 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.