Elman Rustamov: Insurance sector is very poorly developed


May 13, Fineko/abc.az. Azerbaijan is likely to take steps to expand compulsory insurance.

ABC.AZ reports that the relevant statement was made by Central Bank’s chairman Elman Rustamov at today's press conference.

He noted that there have been problems in the insurance sector for a long time.

According to Rustamov, the insurance sector is very poorly developed: "The insurance sector cannot cover the risks of the population and business, so problems arise periodically. The insurance sector has programs on state ownership, business and population coverage. Although some steps related to the pandemic are being delayed, this issue is in the spotlight."