Azerbaijani Insurance Industry - Governance, Risk and Compliance Insights

Table of Contents
1 INTRODUCTION
1.1 What is this Report About?
1.2 Definitions
2 GOVERNANCE, RISK AND COMPLIANCE
2.1 Legislation Overview and Historical Evolution
2.2 Latest Changes in Regulation
2.3 Legislation and Market Practice by Type of Insurance
2.3.1 Life Insurance
2.3.2 Property Insurance
2.3.3 Motor Insurance
2.3.4 Liability Insurance
2.3.5 Marine, aviation and transit insurance
2.3.6 Personal accident and health insurance
2.4 Compulsory Insurance
2.4.1 Real estate insurance
2.4.2 Motor third-party liability insurance
2.4.3 Passenger insurance in respect of all public transport by road, air, rail or sea
2.4.4 Workers' compensation insurance
2.4.5 Auditors' professional liability insurance
2.4.6 Liability for ships with respect to oil pollution
2.5 Supervision and Control
2.5.1 International Association of Insurance Supervisors
2.5.2 The Ministry of Finance
2.5.3 Azerbaijan Insurers Association (Azerbaijan S??ortaç?lar Assosiasiyas? - ASA)
2.6 Non-Admitted Insurance Regulation
2.6.1 Overview
2.6.2 Intermediaries
2.6.3 Market practices
2.6.4 Fines and Penalties
2.7 Company Registration and Operations
2.7.1 Type of insurance organization
2.7.2 Establishing a local company
2.7.3 Foreign ownership
2.7.4 Types of license
2.7.5 Capital requirements
2.7.6 Solvency margin
2.7.7 Reserve requirements
2.7.8 Investment regulations
2.7.9 Statutory return requirements
2.7.10 Fee structure
2.8 Taxation
2.8.1 Insurance premium or policy taxation
2.8.2 Withholding taxes on premium paid overseas
2.8.3 Corporate tax
2.8.4 Captives
2.9 Legal System
2.9.1 Introduction
2.9.2 Access to court
2.9.3 Alternative dispute resolution (ADR)
3 APPENDIX
3.1 Methodology
3.2 Contact GlobalData
3.3 About GlobalData
3.4 GlobalData's Services
3.5 Disclaimer

List of Tables
Table 1: Insurance Industry Definitions
Table 2: Azerbaijan - Insurance Regulatory Framework Key Features
Table 3: Azerbaijan - Life Insurance Regulatory Framework
Table 4: Azerbaijan - Property Insurance Regulatory Framework
Table 5: Azerbaijan - Motor Insurance Regulatory Framework
Table 6: Azerbaijan - Liability Insurance Regulatory Framework
Table 7: Azerbaijan - Minimum Capital Requirements
Table 8: Azerbaijan - License Fees
Table 9: Azerbaijan - Corporate Tax Rates for the Financial Year 2020

List of Figures
Figure 1: Azerbaijan - Insurance Supervision and Control at Various Levels
Figure 2: Azerbaijan - Insurance Regulatory Frameworks for Company Registration and Operation