Baku, Azerbaijan, Dec. 1
By Anvar Mammadov – Trend:
Azerbaijan’s insurance companies that are members of the Green Card international motor insurance system, issued 2,674 international insurance policies for vehicles in November 2017, which is twice more than in the same period of 2016, the Compulsory Insurance Bureau of Azerbaijan (ISB) said Dec. 1.
As many as 1,352 contracts were concluded with the owners of vehicles going to Turkey and Iran, 1,278 contracts with owners traveling to Russia, Ukraine and Moldova, 44 contracts – with owners traveling to all countries included in the Green Card system (with the exception of Israel and Belarus).
Premiums on international vehicle insurance contracts amounted to 184,240 manats, which is by 2.01 times more than in November 2016.
According to the ISB, 2,063 of the signed contracts accounted for insurance of cars, 309 of the signed contracts accounted for insurance of trucks, 281 - insurance of trailers, 20 - insurance of buses and 1 - 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 happened.
The ISB includes 16 companies, 13 of which are authorized to sell policies of compulsory civil liability insurance for motor vehicles.
There are 22 insurance companies in Azerbaijan.
(1.7001 manats = 1$ on Dec. 1)