16:55 - 14.04.2026

---

April 14, Fineko/abc.az. Draft amendments to legislation to improve compulsory real estate insurance in Azerbaijan have been submitted to the Cabinet of Ministers.

ABC.AZ reports that CBA Financial Stability Department’s director Atakhan Hasanov stated this at a press conference.

He added that a new draft law has been prepared on conceptual changes in the agricultural insurance system, as well as on the regulation of the institution of insurance mediators.

CBA general director Vusal Gurbanov noted that it is planned to increase insurance amounts related to real estate: "The current legislation does not apply to catastrophic risks, so the insurance amounts are small. We are thinking about increasing these amounts, so a new concept has been developed that includes the risks of fire, explosion, and lightning. Various measures are also planned to ensure the promptness of insurance payments. At the same time, electronic arrangements are expected. That is, a number of aspects with a civilian orientation were taken into account," he said.

 

By Elmir Muradov