Today.Az » Business » More vehicles get insured
08 September 2017 [17:27] - Today.Az
By Sara Israfilbayova
Azerbaijan’s insurance companies that are members of the Green Card international motor insurance system, issued 5,662 international insurance policies for vehicles in August, the Compulsory Insurance Bureau of Azerbaijan (ISB) said on September 8.
The number of issued insurance policies increased by 3.3 times compared to the same period of 2016. The insurance premiums on these contracts amounted to 266,950 manats, which is 2.7 times more than in the same period of 2016.
As many as 4,975 of the signed contracts accounted for insurance of cars, 338 - trucks, 302 - trailers, 43 - buses and 4 - for insurance of motorcycles.
The Green Card system has been functioning since 1951. The system became operational in Azerbaijan in January 1, 2016. The main objective of the Green Card System is settlement of claims of persons injured as a result of road accidents involving foreign registered vehicles, ensuring that victims of accidents involving foreign registered vehicles are not disadvantaged, as well as facilitation of the movement of vehicles across international borders by the use of an internationally acceptable insurance document.
In 2016 insurance companies of Azerbaijan, within the Green Card system issued 10,514 international insurance policies for vehicles.
Some 7,497 of these agreements were signed with owners of vehicles driving to Turkey and Iran, 2,569 to Russia, Ukraine and Moldova, and 448 to other countries included in the system of Green Card.