Voluntary car insurance fees up in Azerbaijan

The total amount of chargers of voluntary car insurance makes 21,414 min AZN in Azerbaijan from January to May and it’s increased by 38% in the comparison with last year’s index.

According to researches made by APA-ECONOMICS the payment volume in case of traffic accidents (for different types of voluntary insurance) increasing by 50% reached 8,668 min AZN.

Besides it, the amount of payment receiving through “Compulsory insurance of civil liability of vehicle owners” was 29,001 min AZN this year, it’s increased more than 15 times in comparison with last year. The payment of car insurance increased by 41%, it makes 482 min AZN over last year.

The voluntary car insurance makes 15 % and compulsory 20% from all received chargers.

It was identified that the majority of insurance payments fall on International Insurance Organizations as “AXA MBASK”, “Atashgah sigorta”, “Standard Insurance”, Azersigorta”, AzSigorta”.

The volume of premiums received by insurance organizations in Azerbaijan was 144,703 min AZN from January to May in 2011 and the amount of payments was 32,945 min AZN.


/APA/