Regulatory Alerts2024-12-16
Regulation on Maintaining the Register of Professional Participants of the Insurance Market
The Central Bank of the Republic of Azerbaijan issued this regulation to establish and maintain an official electronic register for all insurance market professionals, including insurers, actuaries, independent experts, and foreign brokers. The framework mandates standardized application procedures, specifies required documentation for inclusion, and sets a 30-day review period with clear error-correction timelines. It further requires registered entities to promptly report operational changes, outlines specific grounds for removal, and ensures all register data is publicly accessible via the Central Bank’s official website.
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