14:42 - 1.06.2026

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June 1, Fineko/abc.az. By the end of 2026, it is planned to formulate proposals for the introduction of an expanded guarantee scheme for voluntary types of insurance.

ABC.AZ reports, referring to the Central Bank of Azerbaijan, that this activity is one of the measures defined in the financial sector development strategy for 2024-2026.

This mechanism is aimed at improving the system of protecting the rights of insurance companies' customers. As part of its application, in case of loss of solvency by the insurance company, partial coverage of claims for insured events or transfer of contracts to another insurer is possible, which will ensure their continuity.

According to the CBA, this approach helps strengthen confidence and financial stability in the insurance market.

The CBA reported that as part of strategy's implementation in 2026, it is planned to study international experience, develop an economic and technical justification for the possibility of applying the guarantee scheme and formulate proposals for its application by the end of the year.

It was emphasized that in this regard, the study of international practice is currently continuing.