Number of issued Green Card insurance certificates reaches 40,000 in Azerbaijan
BAKU, Azerbaijan, Oct. 21
By Eldar Janashvili – Trend:
From January through September 2019, insurers entitled to operate within the Green Card international system sold 39,500 insurance certificates, which is 18 percent more compared to the corresponding period last year, Trend reports referring to the Azerbaijani Compulsory Insurance Bureau on Oct. 21.
During the reporting period, the collection of insurance premiums under international Green Card insurance contracts amounted to 2.241 million manat ($1.3 million), an increase of 15 percent compared to the corresponding period of 2018.
On 206 insured events, insurance payments worth 790,900 manat ($466,188) were made. Compared to the corresponding period of 2018, an increase in insurance payments by 23 percent is noted.
The Green Card international insurance system is an agreement on the mutual recognition of certificates of insurance of civil liability of vehicle owners among its participants. A civil liability insurance certificate issued by any of the member-states of the Green Card Agreement is valid in the territory of other member-states of this agreement in accordance with this system. Presently, there are 48 countries in the system.
Azerbaijan was admitted as a member of the system on May 28, 2015 and the country has been operating with the system since January 1, 2016.
($1= 1.7 manat on Oct. 21)