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More Green Card policies issued in Azerbaijan in July

Business Materials 7 August 2017 15:12 (UTC +04:00)
More Green Card policies issued in Azerbaijan in July

Baku, Azerbaijan, Aug. 7

By Azad Hasanli – Trend:

Azerbaijan’s insurance companies that are members of the Green Card international motor insurance system issued 4,951 international insurance policies for vehicles in July 2017, the Compulsory Insurance Bureau of Azerbaijan (ISB) said.

The number of issued international insurance policies increased by 4.5 times compared to the same period of 2016.

Premiums on international vehicle insurance contracts amounted to 319,490 manats, which is 4.85 times more than in the same period of 2016.

As many as 4,027 of the signed contracts accounted for insurance of cars, 478 of the signed contracts accounted for insurance of trucks, 413 for insurance of trailers, 27 for insurance of buses and six for insurance of motorcycles.

The Green Card system has been functioning since 1951. The system became operational in Azerbaijan on 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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