Azerbaijan, Baku, March 10 /Trend, U.Ismaylova/
The financial situation of the population has improved significantly compared with previous years. The number of vehicles, real estate and other property has significantly increased, but only a small part of them has been insured, the chairman of AzerSigorta state commercial insurance company Mammad Mammadov said in an interview published Thursday in the official press.
"It is not accidental that in developed countries, the insurance companies are the guarantors to pay compensation during accidents, natural disasters and other cases. But the population of Azerbaijan carelessly approach the issue of insurance," said Mammadov.
He said during the flooding resulting from torrential rains last spring, in several regions many homes remained under water, and it became clear that none of these houses has been insured.
As a result of the disaster, the State allocated compensation to the population from the Public budget, while these funds could be directed to other purposes.
Mammadov said that AzerSigorta developed a special contract for voluntary insurance of private property, and work is currently underway to conclude such contracts.
Mammadov believes that providing all real estates in Azerbaijan with voluntary insurance is impossible, but after adoption of the Law on Compulsory Insurances, it will be possible to completely cover uninsured property. [The bill has already been adopted by Parliament in first reading].
"After the adoption of this law, protection of the rights of owners of immovable property will be ensured," said Mammadov.
Another problem is the lack of an insurance contract of owners of vehicles that currently total about one million in the country.
AzerSigorta State Insurance Company was established in 1992 and has 80 insurance offices in all towns and regions of the country.
The company's premiums hit 750,384 manat with payments worth 589,305 manat for Jan. 2011.
The official exchange rate is 0.7936 manat to $1.