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ASA chair: Interest to CASCO insurance is very small

10.03.2020,17:58


March 10, Fineko/abc.az. There are few people in Azerbaijan who are interested in CASCO insurance.

A relevant statement was made in an interview for ABC.AZ by Azer Aliyev, the chairman of the Azerbaijan Insurers’ Association (ASA).

According to him, the Association is taking measures to increase the interest of insurance companies in CASCO insurance.

Aliyev noted that the companies themselves are also working in this direction and are trying to convince customers that CASCO insurance is mandatory: "At present, the share of CASCO insurance in the insurance market is 3% or 4%. Once the share of CASCO made up 5%. But then it was carried out through the bank, when loans were given for 2 or 3 years. And today, as you know, banks are reluctant to participate in giving loans. We are currently working in this direction. However, there are gaps on our side as well, because I feel that insurance companies are working separately on CASCO insurance. Companies try to work with the clients they have."

By Elmir Murad