Real estate compulsory insurance increased by 73% in Azerbaijan

Baku. 8 June. REPORT.AZ/ In Azerbaijan in May of this year, signed 14,294 contracts on compulsory insurance of real estate, 333 contracts for liability insurance in connection with the operation of real estate and 12 contracts on compulsory individual insurance of passengers against accidents.

Report informs referring to the Bureau of compulsory insurance (BCI), the amount of insurance payments under contracts of compulsory insurance of real estate amounted to 2,133 thousand manats, liability insurance in connection with the operation of real estate - 23.34 thousand manats, on obligatory individual insurance of passengers from accidents - 1,404 thousand manats.Compared with the same period last year, the number of contracts of compulsory insurance of real estate decreased by 8.5%, in civil liability insurance in connection with the operation of real estate - by 2.9%, and mandatory individual insurance of passengers from accidents - 57%.

Despite the fact that the number of contracts on compulsory insurance declined compared to the of May last year, the amount of contributions increased by 73%.

81.34% of insurance contractsrelated to real estate accounts for residential houses and apartments, 1.1% - administrative buildings, and the remaining 17.56% - other types of real estate.