Increase in the amount of 24% (4,1 million manats) in the compulsory property insurance recorded in January-July of this year, APA reports citing Financial Markets Supervisory Authority (FIMSA).
The main reason of this growth is the measures and activities recently done in the compulsory property insurance.
As a result of Memorandum of Understanding signed in September 28, 2018 between FIMSA, Ministry of Labour and Social protection of Population, and three life insurance companies (“Pasha Life Insurance OJSC, Gala Life Insurance OJSC, and Ateshgah Life Insurance OJSC) compulsory insurance charges from loss of professional ability due to industrial accidents and occupational diseases increased by 17% in January-July of 2019 in compassion with the same period of the last year and control to this sector is increased.
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