Azerbaijan, Baku, Dec.22 / Trend , U.Ismayilova /
Compulsory insurance on industrial accidents will increase market activity in Azerbaijan, Azergarant insurance company Deputy Chairman Shukurov Huseynov said today.
The Azerbaijani parliament adopted the bill "On Compulsory Insurance Against Accidents at Work and Occupational Diseases" in the first reading last week.
"If currently there are only 10-15 active insurance products on the market, their number will increase tremendously," Huseynov said.
He added that such insurance is vital given global climate changes and the resulting cataclysms, which are increasing industrial risks around the world.
According to Huseynov, insurer premiums on the insurance will increase by at least 100 percent.
According to State Insurance Supervision Department head Namig Khalilov, the tariff on this type of insurance should reach at least 0.1 percent. Depending on the risk category, the tariff will rise, and not exceed two percent.
On Dec.22, the official exchange rate is 0.8033 manat to $1.
Do you have any feedback? Contact our journalist at: [email protected]