Microinsurance to be introduced in Azerbaijan


June 20, Fineko/abc.az. Azerbaijan will introduce four new types of insurance.

Ibrahim Alyshov, executive director of the Financial Market Supervision Chamber of Azerbaijan, stated that it is planned to introduce four new insurance products in priority areas.

"The defined priority areas are microinsurance, joint insurance, compulsory medical insurance, and agricultural insurance. The Chamber has already conducted market diagnostics and taken appropriate measures in various segments, and works are mainly being carried out in the field of agricultural insurance, which occupies an important place in the economy, in particular in the non-oil sector. The government has already proposed a draft of the relevant legislation," Alyshov said.