ASA: Insurers in Azerbaijan overestimate fees for mediators

17:35 - 28.06.2018


June 28, Fineko/abc.az. The Azerbaijan Insurers Association (ASA) and the Compulsory Insurers Bureau (CIB) held a meeting with insurance companies.

ASA reports that the meeting was devoted to the innovations that could be introduced in e-system of the CIB.

"They also discussed the questions of application of the bonus-malus not on the driver, but on the car, presentation of the functions of the liquidator of to CIB member companies, simplification of technical issues,” ASA said.

The main topic of discussion was the matter of artificial overstatement of the fee the insurance companies offer to mediators and it was decided to establish a special monitoring group on this issue with participation of representatives of the Financial Market Supervision Chamber. In case facts of excessive fees are revealed, serious sanctions will be applied against such an insurance company.

 

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