Azerbaijan, Baku / Trend corr U. Ismayilova / The Azerbaijani insurance company Era-trans has introduced of automobile loan insurance for banks, the head of the Sales Department of the company, Ismayil Maharramov, said on 4 September.
"This type of insurance is not new, but we started its introduction now because of the increasing demand from banks," Maharramov said.
According to him, the company cooperates with only one bank in this kind of insurance. Up to now the company has signed ten agreements.
"Automobile loan insurance insures the banks from the possible risk of non-payment of the loan by consumers," he said.
Era-trans has been operating since 1994 and offers 26 types of insurance, four of them being compulsory. The authorized capital of the company is AZN 1.7mln.