Market of compulsory insurance of vehicles increased by 16%

Baku. 2 September. REPORT.AZ/ In January-August of this year in the information system of the Bureau of compulsory insurance (BCI) were recorded 679,556 contracts on compulsory insurance of civil liability of owners of vehicles. During this period, amount of insurance premiums under mandatory insurance made 53 mln. AZN.

Report informs referring to BCI, 120 821 (17.8%) of which accounted for the contract for vehicles registered abroad and imported to Azerbaijan for transit purposes. Insurance premiums on these contracts amounted to 3.223 million manats (6.1%).

There has been growth in the number of contracts of compulsory insurance of 11%, and amount of premiums by 16% in comparison with the same period of last year.