Regulatory Alerts2024-02-19
Minimum requirements for independent expert activity
The Central Bank of the Republic of Azerbaijan issued Resolution No. 04/2 to establish minimum requirements for independent experts assessing insurance events under Azerbaijani law. The regulation standardizes the appointment process, mandates specific civil-law contracts detailing service fees and deadlines, and requires experts to submit standardized damage assessment opinions within stipulated timeframes. Furthermore, it obligates both individual and corporate experts to file quarterly activity reports electronically with the Central Bank while routing compulsory insurance operations through the Compulsory Insurance Bureau’s digital system.
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