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Insurance companies do not want to insure facilities at Bina Shopping Center - Expert

09.10.2019,11:44


October 9, Fineko/abc.az. Last night there was a fire at Binah Shopping Center.

Serious damage was caused to the property of entrepreneurs, and the issue of insurance of entrepreneurs has been raised again after the incident in the shopping center.

ABC.AZ reports that the question of non-insurance of shopping center’s entrepreneurs was commented by insurance expert Ilkin Ibragimov.

He points out that the matter is somewhat different from the voluntary insurance of movable property. Thus, the expert believes that all kinds of floor covering, ceilings, walls should be considered as real estate, while movable property as transported facilities.

"If the transported facilities are registered and insured with the purpose of sale, there appear many problems. The insurance company must determine the price of the goods sold, and on the basis of this to calculate the risk and offer a price. And due to the fact that there is no transparent accounting in the Bina market, no insurance company wants to insure these facilities. Previously, one insurance company insured real estate at least within compulsory insurance. Subsequently, this company refrained from insuring facilities with a high risk of fire, such as Bina Shopping Center, Sederek Shopping Centre, etc. The matter can be resolved if the management of shopping centers apply to the Financial Market Supervision Authority (FIMSA), as, since this territory has a state document, insurance companies can not refuse from compulsory insurance. On the other hand, the Ministry of Emergency Situations should also strengthen fire safety in this area."

By Elmir Murad