BOS: 'There's no need to raise tariffs for compulsory motor insurance in Azerbaijan'

Baku. 23 June. REPORT.AZ/ Currently, in Azerbaijan there is no need to raise tariffs on compulsory insurance of civil liability of vehicle owners.

Report informs, executive director of the Bureau of Compulsory Insurance (BOS), Elkhan Guliyev said.

According to him, his organization regularly conducts comparative assessment of data for loss in other countries with similar indicators in Azerbaijan: There are countries in which the loss ratio is 98-99%. Our figure is much lower."

"The main problem with the insurance companies associated with extra commission rates and discounts. Financial Markets Control Chamber carries out necessary measures. Now it is possible to work properly," said the head of BOS.