Baku, Azerbaijan, July 11
By Anvar Mammadov - Trend:
The Azerbaijan Insurers Association (AIA) offers its member companies a new method of paying membership fees, the AIA said in a message July 11.
Such an offer was made by Chairman of AIA Mustafa Abbasbayli at the meeting of the association’s Supervisory Board.
Under the new method, insurance companies will pay membership fees to AIA according to their share in the market.
“The size of the membership fees of each insurance company for the new year will be determined on the basis of its fees in the previous year,” the message said. “We want the membership fees of insurance companies to be commensurate with their share in the market.”
The proposal will be considered by all members of the association, and after that a final decision will be made.
Presently, every insurance company pays a fixed amount as membership fee.
The AIA was established in 2006.
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