Compulsory insurance contract is signed by a physical or legal person, based on the requirement set by law. The law requires obligatory enrollment in life, medical or property insurance of certain categories of citizens or the property of companies. In addition, it includes liability insurance for property and other damage of individuals or companies.
Compulsory insurance is regulated by the Law of the Republic of Azerbaijan "On compulsory insurance," and requires licensing of insurance companies involved in compulsory insurance activities.
PASHA Insurance has a license to operate on compulsory insurance of civil liability of vehicle owners, compulsory insurance of real estate and compulsory liability insurance associated with the operation of real estate. The company is included in the register of the Bureau of compulsory insurance.
Registration can be completed online by connecting to the database of Bureau of compulsory insurance.