Government of Azerbaijan approved the single rules on the goodwill insurance of cars which will be applied beginning from January, 01, 2010. Those recommendations early prepared and submitted by Center for Economic and Social Development (CESD), leading economic think tank in Azerbaijan. According to the new rules if earlier the goodwill insurance of cars was conducted in special insurance packages, developed by the insurance companies in Azerbaijan, after the ratification of the single rules the customer will be provided with the complete right to choose the insurance company to insure a car, purchased by credit.

The single rules have been developed in line with the Civil Code, the law “On insurance activity” and other legislative acts of Azerbaijan.

Center of Economic and Social Development experts noted commenting on the changes that after the application of single rules, persons who purchase cars for a credit will not be forced to insure cars in these companies.

“They will have an opportunity to choose the insurance package. Meanwhile, the customers will be able to define the insurance term. This will reduce costs for the insurance of automobile transport. Earlier, the term of insurance was defined by the automobile salon or the insurance company”, experts mentioned. Experts consider the new rules progressive.  They believe single rules will reduce insurance costs. “This will soften the problem of insurance for future car owners. There will appear an opportunity to use more available and profitable packages.