Bill on e-signature on insurance market to gain effect in late 2012

The draft bill prepared by the Ministry of Finance on use of “electronic signature” (“e-signature”) in the insurance market of Azerbaijan is expected to come into force until the end of this year. The statement came from press secretary of the Finance Ministry Mais Piriyev.

“At present, purchase of insurance products via the Internet and mobile communications is widespread in the international practice. This is primarily allows the interested persons to can enter into an insurance agreement that makes insurance more affordable services. The provision of insurance services in Azerbaijan by electronic means will create conditions for broader dissemination of insurance in the country”, said Piriyev.

According to his words, it is planned, that the draft bill on the application of “e-signature” in the insurance market of the country will enter into force until the end of the current year.

Note that, the drafts of the relevant documents have been prepared and submitted to the government. Thereafter, the draft law is planned to submit to the parliament.

 

 

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