Baku, Azerbaijan, April 1
By Abbas Akhundov - Trend:
Payments were made on 1,015 claims on compulsory insurance of civil liability of vehicle owners (CTP) in Azerbaijan to the sum of over 1.2 million manat in March 2014, the Compulsory Insurance Bureau of Azerbaijan said on April 1.
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 |
In connection with the death of a person |
Total |
|||||
|
Quantity |
Sum |
Quantity |
Sum |
Quantity |
Sum |
Quantity |
Sum |
Quantity |
Sum |
|
926 |
1 056 377 |
36 |
38 279 |
40 |
51 000 |
13 |
64 000 |
1 015 |
1 209 656 |
The volume of payments in March 2014 was by 16 percent less than in the same period of 2013. The average volume of one payment amounted to 1,141 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 amounts to 50 manat and is used in regard to cars with an engine capacity of up to 1500 cubic centimeters. With the increasing volume of the engine (from 1,500 to 5,000 cubic centimeters), coefficients from 1.5 to five are added up to the cost. Coefficient five is used for cars with an engine capacity of over 5,000 cubic centimeters.
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 April 1 is 0.7843 AZN/USD.
Translated by L.Z.
Edited by C.N.
