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Insurance company Azersigorta to reduce

19.05.2021,16:05


May 19, Fineko/abc.az. State mandatory personal life and health insurance of MPs of Milli Majlis, judges, personnel of the Armed Forces, state security bodies, foreign intelligence, military personnel of subjects of intelligence and counterintelligence activities, as well as persons serving in other state bodies (institutions that are part of the structure of state bodies), in which military service is provided, and military personnel who are on training camps, prosecutors, investigators serving in the justice, migration, conducting inquiries, the State mandatory personal life and health insurance of persons who protect public order, organize customs affairs, serve in diplomatic missions operating in foreign countries and international organizations, and personnel of the civil defense forces, has about 60% of the insurance premiums collected by the state insurance commercial company (Azersigorta), and insurance payments made by it.

ABC.AZ reports that this was stated by Azersigorta’s deputy chairman Aftandil Hajiyev.

It should be recalled that this issue is reflected in the presidential decree on some measures to improve management in the field of state compulsory personal insurance. According to the decree, the State Social Protection Fund will keep records of insured persons in the field of state compulsory personal insurance, monitor the payment of insurance premiums by the insurer to the insurer, issue insurance payments in accordance with the procedure and terms established by the legislation in the field of state compulsory personal insurance, create and increase insurance reserves, as well as perform other works in the field of state compulsory personal insurance.

Hajiyev noted that although the final decision is expected to reduce Azersigorta's premiums more than 2-fold, the company will try to recover the lost funds through voluntary types of insurance: "We probably will not be able to fully recover this amount, but we will try to restore it by half. In a word, we will fight for survival."