BAKU, Azerbaijan, November 1. Central Bank of Azerbaijan (CBA) is implementing a long-term project aimed at informing individuals and legal entities about insurance, Director of the Insurance Activity Policy and Supervision Department of the CBA Vusal Gurbanov told Trend.
"The CBA is working on the implementation of several projects. One of the projects is informing the population and business entities about insurance and the risks, that it covers. First of all, it's talked about the assessment of risks, that citizens and business entities may face, as well as the possibility of their insurance so that in the event of an insured event, they don't incur losses," he said.
"The bank's work in this direction is to maximize the coverage of the population of the country with information about insurance and risks. I would like to note that the Central Bank, the Compulsory Insurance Bureau and Azerbaijan Insurers Association (AIA) have launched a joint project, which covers all these components," Gurbanov said.
He emphasized that before launching the project, CBA conducted the relevant survey among individuals and legal entities.
"This survey allowed us to give a primary assessment of insurance and risk awareness, and determine in which direction the CBA needs to continue working to inform individuals and business entities. Of course, this project will be implemented gradually and on a long-term basis," Gurbanov added.
