17:45 - 6.08.2024

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August 6, Fineko/abc.az. The minimum requirements for insurance compensation and the sum insured for professional liability insurance of the appraiser have been established.

ABC.AZ reports that in accordance with Cabinet Ministers’ new resolution, compensation for damage caused to the customer and (or) third parties as a result of violation of the terms of the evaluation agreement, as well as the requirements established by the Law on Evaluation Activity for its activities on the basis of mistakes made by the appraiser during the evaluation activities or committed by him through negligence, is minimal the requirement of insurance coverage for professional liability insurance of the appraiser. 

The minimum limit of the insurance amount for professional liability insurance of the appraiser is set at 200,000 manats.