Prohibitions in field of insurance – LIST

11.06.2019,15:42


June 11, Fineko/abc.az. Some limitations in the sphere of insurance are available as well as in any other field of activity.

The general provisions of the Insurance Law of the Republic of Azerbaijan contain a number of paragraphs on the occasion.

Those paragraphs say that the following is prohibited in the field of insurance:

1.1. Insurance activity without a special permission;

1.2. Monopolization of the insurance market services by the insurer and the conclusion of agreements and contracts aimed at limiting competition in insurance activity;

1.3. Dealing with banking, manufacturing and trading activities by the insurer.