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Insurance Companies of Azerbaijan face problems in joining Green Card Insurance

02 September 2006 [09:31] - TODAY.AZ
Economic Cooperation Organization member countries have not put forward concrete proposals on creation of Blue Card- international insurance system, Finance Ministry State Control over Insurance officer, Namig Khalilov told.

He said this question has been raised by ECO member states recently.

Saying Azerbaijani insurance companies have problems with joining International Insurance System-Green Card- in Europe, Mr. Khalilov, underscored that the efficiency of this system doesn’t satisfy Azerbaijani companies.

"The limit for this system is over 600 000-1.5 mn euros. That means the portfolio of insurance companies have to be bigger."

He said that Azerbaijani companies have not been a member of Green card but acts as an agent of companies of other foreign countries participating in the system, APA reports.


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