Cargo insurance has more than doubled


August 6, Fineko/abc.az. Over two-fold rise was observed in the cargo insurance of Azerbaijan.

ABC.AZ reports that according to the review of the Center for Analysis of Economic Reforms & Communications, the growth was recorded due to restrictions on cargo transportation during the pandemic.

The indirect positive impact of the pandemic on the insurance sector should also be noted.

Thus, during the pandemic with the widespread introduction of the transition to e-commerce in all areas, there was a need to register informal employment, which previously existed among business entities working in various sectors. For this reason, since compulsory insurance of officially registered employees is important, the increase in insurance cases naturally led to an increase in insurance premiums.