Regulatory Alerts2024-02-05
Regulation on the Organization and Conduct of Insurance Certification
The Central Bank of the Republic of Azerbaijan issued this regulation to standardize certification procedures for insurance brokers’ executive heads, individual intermediaries, and actuarial certificate applicants. It mandates specific documentary submissions, outlines closed- and open-type examination formats with defined scoring thresholds, and establishes validity periods ranging from three to five years based on the applicant's role. Furthermore, the framework dictates examination scheduling, result publication timelines, and re-certification requirements to ensure ongoing compliance within Azerbaijan’s insurance sector.
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