Baku, Azerbaijan, March 3
By Abbas Akhundov - Trend:
Payments were made on 1736 claims on the compulsory insurance of civil liability of vehicle owners (CTP) in Azerbaijan to the sum of 2.25 million manat in February 2014, the Compulsory Insurance Bureau of Azerbaijan said on March 3.
The table reflects data in accordance with the type of damage on the number and amount of insurance payments under requirements exposed to insurers:
|
Damage to motor vehicle |
Damage to property |
Damage to health |
Regarding the death of a person |
Total |
|||||
|
Quantity |
Sum |
Quantity |
Sum |
Quantity |
Sum |
Quantity |
Sum |
Quantity |
Sum |
|
1 603 |
2 007 524 |
48 |
40 404 |
59 |
76 250 |
26 |
130 000 |
1 736 |
2 254 178 |
The volume of payments in February 2014 exceeded the volume in the same period of 2013 by 14 percent. The average volume of one payment for damage to a motor vehicle amounted to 1252 manat.
The Compulsory Insurance Bureau includes 14 companies.
After the law 'On compulsory insurance' came into force in December 2011, the basic cost of an insurance policy on CTP amounted to 50 manat and is used with regard to cars with an engine capacity of up to 1500 cubic centimetres. With an increased engine volume from 1500 to 5000 cubic centimetres, coefficients from 1.5 to five are added up to the cost. Coefficient five is used for cars with an engine capacity of over 5000 cubic centimetres.
Previously, the insurance premium for all passenger cars was 10 manat.
The contract with the owners of vehicles registered abroad and imported to Azerbaijan for transit purposes was signed for a period of one month and the insurance amount equals 25 percent of the annual premium for the vehicle.
The official exchange rate on March 3 is 0.7844 AZN/USD.
Translated by L.Z.
Edited by S.M.
