Baku, Azerbaijan, June 5
By Khalid Kazimov - Trend:
Iranian President Hassan Rouhani has announced regulations on third party insurance in order to be implemented.
Under the regulation, the insurers are allowed to offer up to 2.5 percent discount for extending third party insurance, Donya-e-Eqtesad newspaper reported.
The companies, however, need to get the required permissions from Bimeh Markazi Iran (Central Insurance of IR Iran) for offering discounts over 2.5 percent.
Third party insurance is one of the liability insurances in which the responsibility of driver against other parties is insured.