On July 17, the Canadian Lawrie Savage & Associates Inc, consultant for upgrading the legislation in the sphere of insurance and bringing it into conformity with the international practices, held a presentation at the Ministry of Finance of Azerbaijan. The event brought together the representatives of the insurance companies functioning in Azerbaijan, Trend reports.
The consultant has got familiar with the practices of insurance activity in other countries.
Lawrie Savage & Associates Inc has been involved within the technical assistance of the World Bank totaling $325 thousand. The contract between the Ministry of Finance of Azerbaijan and consultant was concluded on May 15, and the company will start fulfilling its duties in a month.
The tasks of the consultant include preparing new proposals for a new law On insurance, normative-legal acts in connection with its application, aw well as participating in developing a new bill On compulsory insurance.