BAKU, Azerbaijan, June 10
By Zeyni Jafarov - Trend:
About 43 percent of the population and 71 percent of business entities in Azerbaijan actively use insurance services, the Azerbaijan Association of Insurers told Trend on June 9.
According to the association, the results of a survey being conducted within the "Memorandum on the systematic and consistent implementation of measures to improve insurance literacy", signed by the Central Bank of Azerbaijan (CBA), the Association of Insurers, and the Compulsory Insurance Bureau show that 19 percent of the population and 12 percent of business entities out of more than 2,000 respondents do not renew the insurance contract as they did not have a single insured event during the insured period.
"Some 37 percent of the population of Azerbaijan and 47 percent of business entities prefer property insurance," the association added. "Some 35 percent of the population and 48 percent of business entities prefer car insurance."
The Association added that 45 percent of respondents among the population receive information about insurance through local TV channels, 25 percent - through news websites.
Earlier, the executive director of the association Elmar Mirsalayev said that the steps were outlined in the Azerbaijani insurance market in the short and medium-term to intensively work towards informing and enlightening citizens in this sphere.
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