BAKU, Azerbaijan, Nov. 5
By Zeyni Jafarov – Trend:
At the moment, the appointment of an insurance product of compulsory motor insurance (OSAGO) is mandatory, that is, everyone who drives a car in Azerbaijan must receive mandatory liability insurance, Trend reports citing the Association of Azerbaijan Insurers (AAI).
This is an imperative liability, which obliges the vehicle owner to compensate for material damage caused to the other party during an accident caused by the car owner's negligence.
According to ACA, most car owners are aware that this type of insurance is mandatory. However, not all car owners have sufficient information about the importance of the product they receive. Even today, there are many existing and potential insurers who confuse OSAGO with CASCO insurance. Naturally, in this situation, a great burden also falls on insurance companies. They should pay special attention to correct information and broad education of citizens in this direction.
The association noted that based on the survey indicators, the OSAGO product has a larger share among all compulsory types of insurance. However, due to the existing conditions in the country due to the pandemic, there has been a slight decrease in fees and payments for this type.
"If we compare with previous periods, our citizens already know what to do when an accident occurs, what documents need to be collected or where and how to apply when they want to get insurance. But we, as the Association of Azerbaijan Insurers, advocate an intensive and broader trajectory of information and education work," the ACA summed up.
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