Azerbaijan Insurers Association (AIA) drew proposals on setup of new organization to unite all insurance companies across the republic. Head of International Insurance Company Fariz Abbasov told Trend that the proposals have been drawn with participation of Ateshgah, MBask and Azersigorta, all within Union of Insurance Companies of Azerbaijan (UICA), and on the other hand - Standard Insurance and РњРЎРљ within AIA.
We realize that there are three groups of insurance companies in Azerbaijan: with AIA, with UICA and independent ones. New organization setup is necessary in order to prevent problematic heritage of acting associations, said Abbasov.
Abbasov said also these proposals have already been brought to UICA attention. В"First reaction of UICAs president was negative as UICA suggests new structure establishing based on UICA. However, final decision is up to UICA members. Upon making such decision, a organization committee will be established to make a mutually acceptable decision at participation of all insurance companies of the countryВ", - he outlined.
AIA was setup in April 2003. At the moment it unites 5 companies (International Insurance company, MBASK, Azal sigorta, CI Insurance and Standard Insurance) and one brokeing organization, Caspian International Brokers.