Baku, Azerbaijan, Oct. 11
By Taleh Mursagulov - Trend:
The Azerbaijan Insurers Association (AIA) has established a monitoring group to identify dishonest insurance agents who sell insurance policies in the compulsory insurance market at dumped prices, Head of the AIA Mustafa Abbasbayli told Trend Oct. 11.
He said that the AIA regularly conducts monitoring, the results of which were discussed Oct. 10 at the AIA meeting.
“We identified several such agents and sent information to the Financial Market Supervisory Authority of Azerbaijan (FIMSA),” said the head of the AIA. "Their activities are considered illegal, and the appropriate measures may be taken against them."
A source in the insurance market told Trend that some insurance agents sell insurance products in the compulsory insurance market at dumped prices, thereby creating unfair competition in the market.
(1.7 AZN = 1 USD on Oct. 11)