TODAY.AZ / Business

Fuad Alakbarov: "Insurance companies do not show interest in the International Green Card System"

07 March 2006 [10:30] - TODAY.AZ
"Instead of joining the International Green Card System, insurance companies of Azerbaijan are interested to sell cards of other countries."

APA was given this explanation by the executive director of the Association of Insurance Companies of Azerbaijan (AICA) Fuad Alakbarov.

According to Mr.Alakbarov, most of the CIS countries and neighboring Iran have joined this system and present their own national "green cards". Countries participating in International Green Card System the system do not allow motor cars without "green cards" to enter their territories.

Mr.Alakbarov noted that insurance companies of Azerbaijan do not show interest in the International Green Card System, and that is why they do not join this system. According to him, when joining the system, the Azerbaijan National Bureau for Green Card Transport Insurance must present a deposit exceeding $1m.

"After that insurance companies included in the bureau are permitted to issue national "green cards". If an owner of a car with a "green card" meets an accident abroad, the insurance company makes amends to the car's owner. Payment of the "green card" in Azerbaijan is approximately $700-1000," the AICA head noted.

Azerbaijan raised the question on joining the International Green Card System in 1999. The Azerbaijan National Bureau for Green Card Transport Insurance was established in that year.

URL: http://www.today.az/news/business/23900.html

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