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Azerbaijan: Financial incentives needed for development of agriculture insurance

September 2, 2014 - 6:00am

Insurance expert Khayal Mammadkhanli has said that tax and financial incentives are needed for the development of agricultural insurance in Azerbaijan, AzerNews reported citing Trend Agency.

Mr. Mammadkhanli said Azerbaijan could provide subsidies for agriculture insurance.

Orkhan Bayramov, chairman of Azerbaijan Insurers Association, said the introduction of mandatory agricultural insurance is inevitable, AzerNews reported.

The market capacity of Azerbaijan's agricultural insurance is estimated at 150-200 million Azerbaijani manats ($191.2-254.9 million).

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