License of Progress-Insurance Agency suspended

Finance
  • 04 December, 2017
  • 13:43
License of Progress-Insurance Agency suspended
Report

Baku. 4 December. REPORT.AZ/ The license of "Progress-Insurance Agency" LLC, issued on February 29, 2016 for exclusive insurance agent activity was suspended for a month.

Report informs citing the Financial Market Supervisory Authority (FIMSA).

During the inspection conducted by the Authority, violations of the insurance legislation in the company's activities were revealed.

The company was given one month to eliminate deficiencies and it was stated that cancellation of the license of the insurance agency will be considered in accordance with the legislation.