BAKU, Azerbaijan, April 19
By Zeyni Jafarov - Trend:
The countries have been forced to switch to a strict quarantine regime, which included various restrictions since last year due to the coronavirus (COVID-19) pandemic, Executive Director of the Azerbaijan Insurers Association Elmar Mirsalayev told Trend on April 19.
“However, during this period, the insurance market of Azerbaijan was able to adequately respond to the challenges of the pandemic, which brought new trends,” the executive director said.
“This process in one form or another began to exert its negative impact on the economies of all countries,” Mirsalayev said. “The negative consequences, in turn, contributed to the emergence of new challenges in terms of business and services, as well as in consumer and user behavior.”
“The compulsory medical insurance system, which was planned to be introduced at the national level, began to operate with a delay of one year, that is, since April 1, 2021 due to the rapidly spreading COVID-19 pandemic in the country,” Mirsalayev said.
"During this period, local participants in the insurance market were able to adequately respond to the challenges of the pandemic,” the executive director said. “In all cases, the service sector must take into account the requirements and conditions of time. This also applies to the insurance services."
“Some Azerbaijani insurance companies have begun offering products related to the coronavirus pandemic,” Mirsalayev said. “Thus, Ateshgah Hayat company presented the Anti-Coronavirus product, Pasha Sigorta company - the Help with COVID insurance product, while Qala Hayat company - COVID-19.”
"These insurance products were formed and applied in accordance with the requirements and conditions of this period,” the executive director said. “As a result, these products were selected taking into account the market activity and, as expected, aroused great interest among the population. The demand and application activity for these insurance products continues up till now."
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