Market of compulsory insurance of immovable property sharply reduced in Azerbaijan

Baku. 1 March. REPORT.AZ/ 5904 contracts of compulsory insurance of real estate signed in February of 2016 in Azerbaijan.

Report informs referring to the Compulsory Insurance Bureau (CIB), the amount of insurance payments under contracts of compulsory insurance of real estate amounted to 755,887 mln. AZN.

Among the contracts of compulsory insurance of immovable property 64% accounted for houses and flats, 1% - administrative buildings, 35% - other real estate.Compared with the same period last year the number of contracts of compulsory insurance of real estate fell by 56%, the amount of premiums decreased by 80%.

In February, 373 compulsory insurance contracts of civil liability signed in Azerbaijan in connection with the operation of real estate, 7 agreements - on compulsory individual insurance of passengers against accidents.

The amount of insurance payments under contracts of civil liability insurance in connection with the operation of real estate amounted to 21,960 AZN on compulsory individual insurance of passengers against accidents - 8,178 AZN.