11:37 - 24.06.2026

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June 24, Fineko/abc.az. New approaches will be applied to voluntary motor vehicle insurance (CASCO).

ABC.AZ informs that Central Bank of Azerbaijan’s first deputy chairman Aliyar Mammadyarov said this at the XI Azerbaijan International Insurance Forum, taking place in Baku.

According to Mammadyarov, these changes will ensure adaptation to international insurance principles, a clearer definition of the rights and obligations of the parties, and increased consumer satisfaction.

He noted that improvements in the field of compulsory real estate insurance will reduce the impact of catastrophic risks, provide more adequate insurance coverage, and enable more timely assessment of losses.

"New legislative initiatives have been prepared for the agricultural insurance system. These changes will focus on strengthening the institutional framework of the system, improving risk management, and enhancing the effectiveness of government support," he added.

By Elmir Muradov