16:59 - 20.07.2022

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July 20, Fineko/abc.az. The Central Bank has approved an innovation on compulsory car insurance.

ABC.AZ reports that according to the new procedure, from 1 November 2022 the damage caused to the car insured without fail will be reimbursed not by the counterparty, but by the company that insured the car.

Then the company making the insurance payment will require payment from the insurer of the owner of the damaged car. That is, the damage caused to the car will be reimbursed by the company that insured the car. The rest of the process will be regulated by insurance companies.