IIA to Advise Employees of State Insurance Control of IIA Principles
Azerbaijan, Baku/ Trend , corr. U. Ismayilova/ Namig Khalilov, the Chief of Department of the Azerbaijani State Insurance Control, said today that the International Insurance Association (IIA) is expected to organize and hold seminars for employees of the Azerbaijani State Insurance Control in June, 2007.
During the forthcoming seminars, IIA specialists will consult with employees of the State Insurance Control on the three "key principles of insurance and methodology" of the of International Insurance Association:
- market research and study principles
- presentation of accounting and financial situation analyzing
- checking the activities of a company on the spot
"The objective of the forthcoming seminars is to get employees of the State Insurance Control acquainted with accepted and recognized international insurance standards and to further introduce them in Azerbaijan," he said.
USAID (United State Agency for International Development) are financing and implementing the project.
In March, Lawrie Savage of First Canada organized courses for employees of the State Insurance Control on international standards in insurance operations, held at the initiative of the Finance Ministry.
Basic international standards in insurance activity, modern insurance control systems, authorities of corresponding bodies, insurance operations, including analysis of the financial stability of the insurers and the capability to pay, licensing, investment activity, re-insurance and control over it, on spot checkups and raids were discussed during the courses held by the Canadian Company,