15:59 - 2.05.2023

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May 2, Fineko/abc.az. The introduction of compulsory real estate insurance is expected to increase in Azerbaijan in 2023.

ABC.AZ reports that Rashad Ahmadov, the executive director of the Compulsory Insurance Bureau, said:

"After transfer of compulsory real estate insurance contracts to e-format, electronic control will be strengthened, and will lead to increase in the spread of compulsory insurance. Currently, the rate of introduction of compulsory insurance is 15%, and it is expected that it will increase to 30%. If last year the contributions on this type of insurance amounted to AZN 50 million, this year they will grow to AZN 100 million."