Today's session of Parliament's economic policy committee has focused on 5 draft laws - "Insurance activity", "Compulsory insurance of servicemen", "Compulsory insurance against the cases of loss of working ability as a result of industrial accidents and occupational diseases", as well as draft laws on changes to the Civil Code and Code of Administrative Offences.

FinMinistry's official Namig Khalilov said that in 9 months of this year, per head insurance premiums made AZN 37 in Azerbaijan, 2 times higher than last year. This figure is expected to hit AZN 40 by the year-end.

"New draft law considers expansion of actuary activity by normative legal acts. After the amendments to legislation, insurance companies operating in Azerbaijan will be able to sell their products via the Internet, as well. And it will be novelty in Azerbaijan", he added,

"In general, all proposed 5 draft laws will make insurance services more qualitative for the insured people. Besides, all problems between the insurers and insured persons will be eliminated. This will stimulate development of insurance market in Azerbaijan", Khalilov noted.

MP Ali Masimli proposed to add aspects on insurance of agricultural products and agricultural sphere to these drafts laws: "The last quake in Shaki-Zagatala zone proved that no insurance company did do carry out payment to suffered residents and the whole responsibility was taken by Azerbaijani government. In the whole world, agricultural sphere is kept with subsidy. That is why, Azerbaijan should pay more attention to the agriculture".

At the end of the meeting, it was decided to put each draft law to plenary session of the parliament.

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AZERBAIJAN to make changes in insurance legislation