16:39 - 12.06.2023

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June 12, Fineko/abc.az. The procedure for liquidation of the Compulsory Insurance Bureau is determined. This is reflected in the proposed amendment to the Law on Compulsory Insurance. According to the draft, the Bureau can be liquidated by a special law. At that, this law should define the procedure for managing and using the information system.

But what can the liquidation of the Bureau lead to?

We addressed with this question to expert Ilkin Ibragimov.

In his statement for ABC.AZ he first pointed out the main essence of the project and the reasons why there was a need to amend the law.

According to the expert, the need to amend the Law on Compulsory Insurance is conditioned by gaps in legislation.

"The gap in the law is what measures will be taken if the Compulsory Insurance Bureau closes or is liquidated? Under the new draft, it will be a special presidential decree. The cancellation of the CIB in general can have very big resonance in our country. This issue lies in the fact that compulsory insurance carries out liquidation procedures in accord with the current legislation. And what happens even if the CIB is cancelled? The essence of the amendments to the Law is that all procedures should be provided for by a special law, a presidential decree, which should also establish procedures. The real changes and projects are in this," Ibragimov said.