AZERBAIJAN: Starting November 2017 only electronic MTPL contracts will be valid

The validity period of the last paper policies on mandatory MTPL insurance expired on 31 October 2017. Thus, the MTPL policies, written out on paper forms, are completely excluded from circulation in the country, wrote the Compulsory Insurance Bureau.

It should be noted that since 1 November 2016 the process of conclusion of MTPL agreements has become electronic.

At the end of September 2017, Azeri insurers members of the Compulsory Insurance Bureau have concluded 86,186 electronic MTPL insurance agreements. Out of them, 13,920 agreements were concluded for motor vehicles registered abroad and entered into territory of Azerbaijan Republic with the aim of transit. In the reporting period, the total value of the GWP for MTPL amounted to AZN 6.83 million.

Currently, 13 insurance companies-members of Azerbaijani Compulsory Insurance Bureau, provide compulsory motor insurance policies to citizens: Ateshgah Insurance Company, Standard Insurance, AtaInsurance, Xalg Sigorta, PASHA Insurance, AXA MBASK, AzSigorta, State Insurance Company of Azerbaijan Republic, Mega Insurance, Silk Way Insurance, Azerbaijan Industry Insurance, Qala Insurance and Gunay Sıgorta.

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