Amendments to the "Rules in the Field of Compulsory Insurance of Civil Liability of Vehicle Owners" have been approved.
Modern.az reports this, citing the Central Bank of Azerbaijan.
According to the information, insurance premiums for compulsory motor insurance are determined by applying coefficients based on risk factors that cover the probabilities of causing damage to the property and health of third parties during the operation of a motor vehicle.
The regular and intensive use of taxi vehicles, designated for passenger transport, in road traffic leads to an increased risk of accidents due to the high frequency of incidents in this area. Analyses have shown that taxi vehicles used for passenger transport have a higher probability of causing damage to the property and health of third parties compared to vehicles used for personal purposes.
The aforementioned factors have created the necessity of applying special coefficients to vehicles used in taxi operations.
Based on analyses and successful international practices, the approved amendments include the application of different risk coefficients for vehicles used in passenger transport.
The proposed changes serve to more adequately determine the civil liability insurance of vehicle owners in relation to risks, increase driving discipline, provide improved insurance services in case of damage to the health and property of third parties, and generally contribute to the preservation of social welfare stability.
