12:21 - 21.10.2026

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October 21, Fineko/abc.az. Ramin Jafarov, the Head of the Department of the Central Bank of Azerbaijan (CBA), said that work is underway in the country to create new insurance classes, develop life insurance products for borrowers and complete electronic mandatory insurance.

A mechanism for direct loss settlement is being introduced in compulsory car insurance, and a transition to a risk-based payment system is planned in compulsory real estate insurance.

At that, it is planned to improve the legislative framework for the development of insurance agents and brokers.