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Over 18,000 "Green Card" insurance contracts concluded in Azerbaijan.

By Trend

Some 18,837 contracts of Green Card international insurance system were signed in January-June 2019,Trendreports referring to the Azerbaijani Compulsory Insurance Bureau on July 30.

According to the Bureau, insurers entitled to operate within the Green Card system sold 18,837 insurance licenses in January-June 2019, which is 16 percent more compared to the same period of 2018.

In January-June 2019, insurance premiums collected by insurance companies upon Green Card international insurance contracts amounted to 1.359 million manats, which is 15 percent more than the same period of 2018.

The number of insurance claims for the reporting period increased by 5.8 percent up to 219.

In January-June 2019, the Bureau continued to review 72 cases related to insurance claims within the Green Card system. The number of registered cases decreased by 42 percent in January-June 2019 compared to the same period of 2018.

Presently, 12 insurance companies are members of the Green Card Compulsory Insurance Bureau.

The Green Card international insurance system is an agreement on the mutual recognition of certificates of insurance of civil liability of vehicle owners among its participants. A civil liability insurance certificate issued by any of the member-states of the Green Card Agreement is valid in the territory of other member-states of this agreement in accordance with this system. Presently, there are 48 countries in the system.

Azerbaijan was admitted as a member of the system on May 28, 2015 and the country has been operating with the system since January 1, 2016.

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Publication:Azer News (Baku, Azerbaijan)
Date:Jul 31, 2019
Words:295
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