This is stipulated by the plan of legislative work of the committee for the spring session of 2018, approved on Jan. 26 at the parliament’s meeting.
“The project was to be submitted to the parliament during the autumn session last year, but it was not fully developed. We hope that at the spring session the drafting of the bill will be completed,” noted Ibrahimov.
The average tariff for agricultural insurance is about 1,500 manats per year (five percent per one hectare), and the average profit per hectare is about 25,000 manat per year in Azerbaijan.
According to the Financial Market Supervisory Authority (FIMSA), premiums in the agricultural insurance market amounted to 4.33 million manats, and payments totaled 1.51 million manats in 2017.
(1 USD = 1.7001 AZN on Jan. 26)
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