Azerbaijan launches on-line sale of compulsory auto insurance policies on November 1

Baku. 13 October.REPORT.AZ/ The Compulsory Insurance Bureau (CIB) has applied to the insurance companies of Azerbaijan.

Report informs, the appeal was made on behalf of the CIB's Executive Director Elkhan Guliyev.

The appeal declares that according to the consent of the Financial Markets Control Chamber, standard and cross-border insurance contracts on compulsory insurance of civil liability of motor vehicle owners (AVSMMIS) will be concluded in electronic form starting from November 1, 2016.

In this regard, the companies must inform the bureau's finance, investment and accounting department on the amount of required policy forms on relevant compulsory insurance in order to print policy forms for AVSMMIS by the CIB.