The Azerbaijan Law Of Agricultural Insurance Comes Into Effect
In August 2019, Law No 1617-VQ of the Republic of Azerbaijan, On Agrarian Insurance, was promulgated.
The Parliament passed the Law pursuant to an authority to establish the framework of banking, bookkeeping, and insurance. The Law regulates relations upon insuring farming risks through the mechanism of coinsurance as well as establishes legal, economic, and organisational bases of agricultural insurance.
The Law came effective as of 2020, upon which, the 2002 Law of Stimulating Insurance in Agriculture ceases to have effect.
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