Compulsory Insurance Bureau

Compulsory Insurance Bureau was established and exists as a union of legal entities in accordance with the Civil Code of Azerbaijan Republic and subject to the requirements of the Law of Azerbaijan Republic On Compulsory Insurance with the purpose of protection of interests of insured persons and third parties who suffer damages and losses, as well as for the purpose of stabilization and development of the compulsory insurance system and fulfillment of duties prescribed by the Law. Foundation meeting of Compulsory Insurance Bureau was called by State Insurance Supervisory Service of Ministry of Finance of Azerbaijan Republic in accordance with clause 3.1.12 of the Decree of the President of Azerbaijan Republic dated September 15, 2011 On Application of the Law of Republic of Azerbaijan dated June 24, 2011, No. 165-IVQ On Compulsory Insurance. Insurance companies whose total capital will be in compliance with the legislation requirements after paying participation fee, accordin...