Baku, Azerbaijan, April 3
By Kheyraddin Nasirzade – Trend:
The process of introducing a single system for assessing insurance damage in Azerbaijan is being delayed, Zakir Karimzade, the head of Audatex Azerbaijan, told Trend.
Rules for direct compensation for damage should have been adopted during the course of negotiations with the Financial Market Supervisory Authority of Azerbaijan (FIMSA), which have stretched out for over a year, Karimzade noted.
According to the head of the company, this process has been delayed due to the lack of activity in FIMSA, which is particularly connected with the work on the restructurization of the institution.
The use of software provided by Audatex allows for applying single approaches in the insurance market of Azerbaijan, as well as a system for assessing damage to a vehicle caused by an accident, which ensures an assessment of damage by insurers under a single system.
Audatex Azerbaijan was established on the basis of an agreement between the Compulsory Insurance Bureau of Azerbaijan (ISB) and Sidexa, which represents the interests of Audatex in France. The document was signed in late 2014; the company itself, however, was registered in Azerbaijan in March 2015. Audatex is part of the American corporation Solera Inc.
Audatex Azerbaijan was created to apply a single approach and a system for assessing damage in the field of compulsory insurance of civil liability of car owners in Azerbaijan.
ISB consists of 16 companies, 13 of which have the right to sell compulsory motor third party liability insurance policies.
