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New Law On Insurance Will Help to Shut Down Unprofessional Insurance Companies in Azerbaijan

Business Materials 10 February 2007 11:25 (UTC +04:00)

The Deputy Director General of the Insurance Company Pasha Sigorta, Nofel Rzayev, informed Trend on February 9 that the expected law On insurance will help to shut down unprofessional insurance companies in Azerbaijan. The new law will ensure that the market is more professional and professionally regulated. It means that the conditions in the market will support the development of the professional companies meeting international standards, he said.

Deputy Finance Minister of Azerbaijan, Azer Bayramov, said that a new law On insurance is expected to be adopted in Azerbaijan in the first half of 2007. The law draft will be presented to the Parliament of Azerbaijan in the near future.

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