Türkiye interested in Azerbaijani model of compulsory auto insurance

Türkiye intends to adopt Azerbaijan's experience in the field of insurance, in particular in the issue of direct compensation for damage to vehicle owners, Fatma Ebru Gencosmanoglu, Vice Chairperson of the Turkish Insurance and Private Pension Regulation and Supervision Agency, who is on a visit to Azerbaijan, told journalists, Report informs.

She noted that Türkiye intends to study Azerbaijan’s experience in the field of insurance:

"In Azerbaijan, the insured owners of vehicles damaged in traffic accidents can receive payment for the damage by contacting their own insurance company instead of contacting the other party's insurance company. This stage has not yet been reached in Türkiye. We will receive information about this experience at the meeting with the representatives of the Central Bank of Azerbaijan. We will find out whether this experience is convenient or not, and its shortcomings, so that we can apply this model in Türkiye."