2024-06-26 02:34:15
The Azerbaijan Worldwide Insurance coverage Discussion board 2024 began at present in Baku.
Because the Affiliation of Insurers of Azerbaijan reported to Day.Az on Thursday, the chairman of the CBA took half within the “Azerbaijan Worldwide Insurance coverage Discussion board 2024”, organized with the strategic help of the Central Financial institution of Azerbaijan (CBA) and the Bureau of Obligatory Insurance coverage, the Affiliation of Insurers of Azerbaijan and the worldwide firm “Xprimm”. Taleh Kazimov, Minister of Agriculture Majnun Mammadov, Chairman of the State Company for Obligatory Well being Insurance coverage Zaur Aliyev and different officers.
The 2-day discussion board featured panel discussions on subjects related to native and world insurance coverage markets, comparable to motor and medical insurance, and the function of insurance coverage in managing local weather dangers.
As Taleh Kazimov famous, Azerbaijan plans to extend the amount of the insurance coverage market and optimize it.
“In accordance with numerous selections, modifications have been made. These modifications concern individuals who obtain dangers by way of the Web to make sure their assure, in addition to making certain their rights. These measures are aimed toward strengthening their safety and rights. Regardless of dynamic modifications, the market potential stays very excessive on the preliminary stage of its growth and bringing it into line with fashionable necessities of the Central Financial institution, which has recognized this as one in every of its priorities,” he mentioned.
He recalled {that a} technique for the event of this space has been developed for 2024-2025, which was adopted by the management of the Central Financial institution.
“On account of this technique, making certain stability has been recognized as the primary precedence. It’s deliberate to extend the amount of insurance coverage companies and their optimization. The precept of “minimal investments, optimum stage of service” shall be applied. The introduction of six fashionable applied sciences will improve the supply of insurance coverage companies and guarantee a excessive stage of buyer satisfaction, which, in flip, will assist optimize our system as an entire. Making an allowance for all these facets, the Central Financial institution has begun a means of particular regulation. This additionally issues supporting modern modifications and enhancing administration effectivity, which is a vital precedence within the context of local weather change and the rise within the variety of insurance coverage circumstances, which ends up in. vital prices for each the inhabitants and the financial system,” he famous.
Minister of Agriculture of Azerbaijan Majnun Mammadov, in flip, famous that within the close to future, Azerbaijan plans to broaden the protection of agricultural insurance coverage and introduce extra modern insurance coverage merchandise to attenuate the influence of local weather change on the agricultural sector.
“Our objectives within the discipline of agricultural insurance coverage are broad. Within the close to future, we plan to broaden the protection of agricultural insurance coverage and introduce extra modern insurance coverage merchandise to attenuate the influence of local weather change on the agricultural sector. I might additionally like to emphasise that the profitable insurance coverage mannequin utilized in our nation is of curiosity to varied states. Cooperation with brotherly Uzbekistan on this path will be cited for instance,” he emphasised.
Based on him, at the moment 25 p.c of the nation’s agricultural land is beneath insurance coverage safety.
Additional, talking about obligatory medical insurance coverage, the Chairman of the Board of the State Company for Obligatory Medical Insurance coverage Zaur Aliyev said that the aim of introducing this method is to make sure common and sustainable medical insurance coverage.
He famous that such insurance coverage ensures the availability of efficient medical companies and improves healthcare financing.
“Given the UN precept of “leaving nobody behind” as a part of the Sustainable Growth Objectives, the obligatory medical insurance system is designed to fulfill the elemental well being wants of the inhabitants. Our purpose is to attain common well being protection so that everybody can obtain high quality well being care with out monetary hardship “I wish to observe that due to the introduction of obligatory medical insurance in our nation, everybody, from kids to adults, is roofed by this method and has the correct to free use of greater than 3,300 medical companies lined by insurance coverage,” added Zaur Aliyev.
Chairman of the Supervisory Board of the Affiliation of Insurers of Azerbaijan Ulviya Jabbarova emphasised that the dangers attributable to local weather change and the dimensions of harm triggered are rising yearly, which is a vital sign for the insurance coverage business and this matter shall be mentioned throughout the framework of COP29.
“One other subject that deeply issues us, in addition to the complete world insurance coverage sector, is the environmental setting, the inexperienced world and local weather change. As world expertise exhibits, the dangers attributable to local weather change and the dimensions of harm triggered are rising yearly, which is essential a sign for the insurance coverage business. It’s value noting that on the finish of this 12 months, revered representatives of the international locations of the world will talk about this matter throughout the framework of COP29, which shall be held in Azerbaijan. Among the many fashionable challenges are additionally new regulatory modifications. Altering necessities, new requirements, enchancment of types of administration and others. instructions listed here are the primary goal indicators. The primary job of insurers is to adapt to those improvements as rapidly as attainable and, consequently, to actively take part in total sustainable development,” she famous.
Chairman of the Board of the Agricultural Insurance coverage Fund Fuad Sadigov famous that the Fund plans to extend the share of insured agricultural areas in Azerbaijan from the present 25 p.c to 31 p.c.
“Over the previous three years, agricultural insurance coverage within the nation has developed dynamically. Agricultural insurance coverage covers numerous dangers comparable to storms, hurricanes and droughts, and performs an essential function in making certain meals safety. We plan to insure further agricultural areas susceptible to the consequences of local weather change. These initiatives are aimed toward to make sure complete safety of farmers and cut back the damaging penalties of dangers comparable to drought,” he emphasised.
The discussion board will proceed tomorrow.
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