Regulatory Alerts2023-08-10
Law of the Republic of Azerbaijan on Agricultural Insurance
The Parliament of the Republic of Azerbaijan enacted this Law to establish a state-supported joint insurance mechanism for agricultural and aquaculture producers. It mandates the creation of an agricultural insurance body and a managing body to administer policies, calculate premiums split between policyholders and the state budget, and operate an integrated electronic information system. The legislation covers risks such as natural disasters, pests, and diseases for plants, livestock, and aquaculture products, while establishing clear procedures for risk assessment, loss investigation, indemnity decisions, and administrative appeals.
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