Fall of 15% occurs in premiums of this type of insurance

15:45 - 6.08.2020

August 6, Fineko/abc.az. Although the domestic insurance sector observes the dynamics of growth, the negative impact of the pandemic has not spared the insurance market.

Thus, the most negative impact was on mandatory insurance of vehicle owners and travel insurance.

ABC.AZ reports that this is reflected in the review of the Center for Analysis of Economic Reforms & Communications related to the insurance market.

The review noted that mandatory insurance premiums on vehicle owners fell by 15%. Travel insurance premiums, which had a greater negative impact, fell 2.5 times compared with last year due to border closures and flight cancellations.

 

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