Amount of compensation paid to insurance company announced


September 18, Fineko/abc.az. The license of insurance company Standard Insurance was canceled by the decision of the Central Bank and the court decision on insurer’s bankruptcy came into force on 14 September 2020.

ABC.AZ was informed at the Compulsory Insurers Bureau that in accord with the law about 1,000 people received compensation within one day.

According to the Bureau, the amount of compensation payments amounted to about AZN 800,000.

It is expected that payment will be made on approximately 4,000 insurance cases, together with the estimated cases before the date of the last contract.