16:36 - 5.09.2019

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September 5, Fineko/abc.az. The forecast of insurance specialists about increasing social payments in connection with changes in the Tax Code since the beginning of the year and lowering the fees for life insurance in the insurance market began to come true, Abc.az reports citing insurance expert Ilkin Ibrahimov.

According to him, however, the growth of other insurance products enables to look into the future with hope. The expert believes that in terms of insurance fees and products the year 2019 will be remembered as the basis of steps to the future: “So, this year the legislative framework and preparations for the use of agricultural insurance and compulsory medical insurance were formed. Their application is scheduled for January 1 of next year. Of course, next year, compulsory health insurance will become a popular type of insurance. At least, because this product, considered the largest state project in the social sphere since 1998, with the state striving to disseminate its legislative base and application mechanism throughout the country for many years, will cover the whole republic in 2020.

"Another type is agricultural insurance. I want to note that even if this year there will be less insurance fees compared to last year, the next year we will see a fantastic collection,” the expert promised.