How should legal entities and individuals insure their facilities on the territory of Azerbaijan?


June 25, Fineko/abc.az. The general provisions of the Law on Insurance say that legal entities and individuals operating in Azerbaijan must insure their facilities located in the country only at insurance companies operating in Azerbaijan.

The above-said law says that transport insurance of goods imported and exported abroad, aircrafts, helicopters and iron purchased at the expense of a foreign loan is carried out until the repayment of the loan, and in the case of leasing by a foreign state – until the expiration of the lease agreement.

In addition, ship owners' liability insurance, life insurance, insurance against accidents, diseases and motor vehicles related to traveling of citizens outside Azerbaijan are also carried out.