17:47 - 1.04.2022

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April 1, Fineko/abc.az. The insurance system is widely used to compensate for damage caused by damage, destruction or any form of loss of immovable property as a result of fire or other events.

ABC.AZ reports that in accord with Article 19 of the Housing Code, residential premises can be insured in accordance with the legislation in order to guarantee compensation for losses related to the loss (destruction) or damage to residential premises.

Thus, in accord with Article 6.1 of the Law on Compulsory Insurance, an insured person on the basis of a compulsory insurance contract for property interests is understood to be a person in whose favor a compulsory insurance contract has been concluded in a personal accident insurance contract (belonging to the category of insured), who owns or actually owns property for property insurance or is determined on the grounds of provided for in Article 6.2 of the above-said law on civil liability insurance.