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They propose in Azerbaijan to punish insurance companies for high commission fees

During the meeting of insurance companies in connection with the electronic system of the Compulsory Insurance Bureau, which was held with the organizational support of the association, the need of prevention of artificial overstatement of commissions set by insurance companies for insurance brokers was discussed.
They propose in Azerbaijan to punish insurance companies for high commission fees

Chairman of the Association of Insurers of Azerbaijan Mustafa Abbasbeyli noted that it was necessary to seriously combat such types of law violations and prevent illegal discounts on the part of insurance agents. In this regard, it was decided to form a monitoring group on this issue with the support of the Chamber for Financial Markets Supervision and the participation of insurance companies’ representatives. It was noted that in cases of high commissions paid by the companies, appropriate measures would be taken to impose sanctions on these companies.

Source: https://www.trend.az/business/economy/2922457.html

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