Compulsory car insurance market increased by 77% in Azerbaijan

Baku. 4 April. REPORT.AZ/ In March of this year 109 842 contracts were signed in Azerbaijan on compulsory insurance of civil liability of owners of vehicles.

Report informs referring to the Bureau of compulsory insurance, 11 004 have made the contract of vehicles registered abroad and imported to Azerbaijan for transit purposes.

During this period, the amount of insurance payments under contracts of standard and border security was 9,5 million manats.

22 034 standard insurance contracts concluded for vehicles not registered in the information system, that is, not having the compulsory insurance. The number of insurance contracts as compared to the same period in 2015 increased by 59.1%, and the amount of premiums - by 76.8%.

In general, in January-March 2016, 240,176 contracts on compulsory insurance of civil liability of owners of vehicles were registered, the amount of insurance payments on them totaled 20.1 million manats. The number of insurance contracts as compared to the same period in 2015 increased by 21% and the amount of insurance payments - 31%.