He said that the fund’s creation is envisaged by the Labor Code and would have significantly improved labor protection in Azerbaijan.
“There is a law in Azerbaijan on compulsory insurance against accidents at work and occupational diseases, but this law implies that insurance isn’t carried out by state but by insurance companies licensed to operate in this sphere,” the minister said.
Muslumov noted that insurance organizations should actively participate in the creation of the labor protection fund.
“I believe that this system should be established in Azerbaijan, and insurance companies operating in this sphere should contribute to the creation of the fund,” Muslumov said. “This will also allow insurance companies to participate in the work of the fund and control the deductions from it. I also believe that a part of the income of insurance companies should be allocated to this fund.”
Presently, three insurance companies - Ateshgah Life, Qala Life and PASHA Life - render compulsory insurance services against accidents at work in Azerbaijan.
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