Details added, first published at 11:52
BAKU, Azerbaijan, July 17. Lawsuits in Azerbaijan, in one way or another, damage the reputation of insurers, Executive Director of the Association of Insurers of Azerbaijan (AIA) Elmar Mirsalayev said during the "Ways to Successfully Resolve Insurance Disputes" conference, Trend reports.
“The number of court cases in the economic activity in 2021 amounted to 1,223, of which 564 were related to insurance. So, the Mediation Council, as a good alternative, will allow to reduce the number of court cases and help increase the insurance literacy," he said.
"I want to note that work has being carried out on insurance education at the national level by the Central Bank of Azerbaijan, the Association of Insurers of Azerbaijan and the Compulsory Insurance Bureau. I believe this will provide for reducing of misunderstandings and disputes in this field in the future," Mirsalayev said.
The Association of Insurers of Azerbaijan (AIA) is a non-governmental organization united on the basis of common interests and established on the principles of volunteerism and legal equality of members, which does not focus on income as the main goal of its activities and does not distribute the received income among its members.
The activities of the AIA cover the territory of Azerbaijan.
The AIA was registered in the Ministry of Justice of the Republic of Azerbaijan on December 29, 2006. The main purpose of the association is to promote the development of insurance and reinsurance companies operating in Azerbaijan, to develop their socio-economic, information and other development programs and to expand scientific knowledge in this field.
The AIA consists of 24 companies, including 5 life insurance companies, 15 insurance companies in the non-life segment, 3 insurance brokerage companies and one reinsurance company.