Compulsory insurance
Compulsory insurance (immovable property, immovable property third part liability, motor third party liability, passengers and life compulsory insurance) ensures reimbursement of the loss or damage to individual’s or legal entity’s insured interest.
Compulsory insurance
Any person, who either has a vehicle in his/her ownership or has a vehicle in his/her possession by fact (including vehicle lease or usage by power of attorney or under any other legitimate ground), is obliged to have an insurance coverage for that vehicle usage within the territory of the Republic of Azerbaijan – Compulsory Motor Third Party Liability (TPL) Insurance.
Compulsory Property Insurance secures reimbursement of loss and damage, ruining or any form of the property destruction, resulted from the listed below situations:
Legal entities, as well as private entrepreneurs, are obliged to have an insurance coverage for usage of the property in their actual ownership, as well as for usage of the property in their possession by fact
Compulsory life insurance envisages payment of insurance to the person disabled in the result of accident occurred during working times.