Baku, Azerbaijan, Sept. 5
By Zulfiyya Gurbanova - Trend:
The Azerbaijani insurance companies wrote 9,440 policies for compulsory real estate insurance in August 2014, which is 50.56 percent more than in August 2013. The fees on insurance contracts amounted to 1.54 million manat, according to a statement posted on the website of the Azerbaijani Compulsory Insurance Bureau.
The bureau was created in accordance with the law "On compulsory types of insurance". The insurance companies started using it on December 16, 2011.
Besides the compulsory insurance of vehicle owners' liability, the law regulates the compulsory real estate insurance, liability in the operation of real estate, as well as passengers.
Housing was insured in 79.92 percent of insurance policy, administrative buildings - 0.26 percent, other real estate - 19.82 percent, according to the statement.
Around 226 contracts on compulsory insurance of liability in the operation of the real estate were signed in August, while fees on them amounted to 18,400 manat, on compulsory insurance of passengers - eight contracts (1,300 manat).
During the reporting period, the number of contracts of compulsory insurance of liability in the operation of real estate increased by 9.18 percent compared to the same month of the previous year.
Around 15 companies are participants of the Compulsory Insurance Bureau in Azerbaijan.
