“Insurance companies have closed the online insurance system, people cannot log into the system and insure their cars. But insurance agents can log into the system.”
This complaint was written on social networks. The citizen wants to insure his car. However, the conditions are not created for him to carry out this process himself. He is forced to turn to insurance agents. In this case, the agent has to pay more. But why do insurance companies do this?
“Caspian” The newspaper published an article on the subject.
According to insurance expert Ilkin Najafov, the reason why companies resort to such games is the situation with compulsory car insurance: “The situation with compulsory insurance is not encouraging. Companies work at a loss. With this measure , many will give up their compulsory insurance licenses Because their losses, especially on cars with small engines, are in the hundreds of thousands. This puts companies at risk of financial failure. For this reason, companies try to get out of this portfolio. like taxis, damage to this type of vehicle prevents insurance.
I. Najafov stated that these measures adopted by companies are temporary. It is better to solve these problems at the root: according to the law “On compulsory insurance”, insurance companies cannot refuse any client who approaches them. Therefore, insurance companies try to avoid requests by saying “you have to come to the office” or “there is a malfunction in the system.” But this is not a solution. Regulatory agencies should address this issue. Because insurance companies’ losses continue to increase. This affects the financial market as a whole. In this case, the companies cannot be blamed either. Because they also need to make profits. The way out is to increase the amount of compulsory automobile insurance or withdraw the licenses of companies that cannot do so. For example, several companies rejected their licenses. Most likely, in the near future other companies will also give up their licensing rights in this regard.”
Economist Fuad Ibrahimov also confirmed that this problem exists in the field of compulsory insurance: “This problem really exists. The site is not closed. The citizen enters, completes the clauses, but in the end cannot complete the process. People are seen obligated to do business with insurance agents. This can also be for insurance agency advertising.
According to Vusal Badalov, founder of the Association of Insurance Agents, although premiums for compulsory motor insurance were increased some time ago, this is not enough for the current period: “For two years now, insurance companies have been insuring motor vehicles low, cars with low insurance premiums and high risk of damage are not interested. The reason for this is low insurance premiums. The insurance rate calculation procedure was changed on October 1, 2022. However, the. Insurance rate increased a little, but companies still work with the loss. They try to compensate for the loss by insuring cars with lower risk and higher insurance premiums.
According to V. Badalov, insurance companies used to attract citizens, but now the opposite is true: “I think that to solve the problem it is necessary to revise the insurance premium. Because the insurance company acts according to the requirements of the legislation. Our country has the lowest mandatory insurance premium among Caucasian countries. Citizen insurance is obtained and wants the company to pay for it, this is normal. If the company is licensed, it must insure the car regardless of the type, engine and rate of the car. sure. Companies were looking for customers on their own, but now it’s the other way around.
The expert listed the steps that need to be taken in this direction: “Since 2011, the insurance amount has been set at five thousand manats. In the past, we saw that damages rarely exceeded five thousand manats. But now, as a result of The increase in the price of cars and spare parts, damage in a small incident exceeds five thousand manats. Over the years, the cost of repairs and spare parts has increased. That is why a special rate is needed for cars. taxis. “The type of insurance they pay is the same after the changes, the current problems will disappear completely. “If this issue is not regulated, within a few years there will be no insurance company left in the compulsory automobile insurance market.”
