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Expert: Insurers to cope themselves with loss caused by coronavirus

06.04.2020,12:37


April 6, Fineko/abc.az. If I were the government, I would prevent first of all the collapse of small and medium-sized businesses, rather than the collapse of banks and insurance companies. Currently, low-income families and small and medium-sized businesses are more in need of assistance.

ABC.AZ was made such a statement by expert Khayal Mammadkhanli, when he was commenting on the damage caused to the insurance sector by coronavirus.

The expert explained: "Despite the decrease in sales of insurance companies, the number of cases has also decreased due to that. Since people are sitting at home, the number of incidents involving a car, including fire, property, has decreased significantly. For this reason, this decrease in companies means a reduction in both insurance premiums and insurance claims. I believe insurance companies can manage this risk on their own within a few months. But if these are large-scale compensatory measures, then all sectors should be helped. Naturally, there are more important sectors than insurance companies if the government's resources are limited."