16:27 - 25.09.2023

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September 25, Fineko/abc.az. The premiums on compulsory civil liability insurance of motor vehicle owners in Azerbaijan for the first 8 months of 2023 exceeded AZN 107 million, ABC.AZ informs with reference to CBA’s statistical data.

The report says that, the premiums for AZN 107.62 million were collected for Jan-Aug of the year. The premiums grew by 81% against Jan-Aug 2022.

The insurers paid compensations by 19% less versus the 2022 same term – AZN 64.77 million.

At that, the positive difference between premiums and compensations amounted to AZN 42.85 million. This figure was equal to AZN 10.41 million for Jan-Aug 2022.

Since November 1, 2022, the Procedure for reimbursement of the CBA's “victim's insurer” payment has come into force and contributions for compulsory car insurance are calculated in a new order.