Compulsory insurance against professional disability resulting from industrial accident and occupational disease

Gala Life Insurance Company was established at the same time with the enforcement of Law on “Compulsory insurance for occupational and professional disability resulting from industrial accidents and occupational diseases”

This law was intended to make insurance payment to the Insured in case of his professional disability or death as a result of damage to his life or health.

The action on compulsory insurance is regulated by The Law of Azerbaijan Republic on “Types of Compulsory Insurance” and only insurance companies with related licenses might deal with this type of insurance.

vAs the title of this insurance product reveals, the enterprises, institutions and organizations, their branches and agencies, state authorities and other bodies shall be insured under Compulsory insurance regardless of their ownership and organization-legal form. 

In case insurance incident occurs when insurance policy has not been awarded, the employer shall be liable against his employee in the amount of insurance cover determined under this law. Moreover, he shall pay penalty in the amount stipulated by law.

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