The Central Bank of the Republic of Azerbaijan held a seminar on шnsurance and its essence at the Institute of Control Systems

04.06.2021 / Conferences, assemblies

The Central Bank of the Republic of Azerbaijan held an educational " Insurance and its essence" seminar at the Institute of Control Systems (ICS) on 3 June 2021. The seminar was attended by employees of the Institute of Control Systems of the Azerbaijan National Academy of Sciences and the Central Bank of Azerbaijan. Taking into account the special quarantine regime in our country, the seminar was organized online on the Zoom platform.

Speaking with a report on "Insurance and its essence", Parviz Guliyev, Director of the Training Center of the Azerbaijan Railways, an internal audit and insurance expert of the Azerbaijan Bank Training Center, said that the contradictions between man and nature and social life together create negative events. As a result of such events, the basis for the emergence and development of insurance activities in the world arises.

P. Guliyev pointed out that insurance is a means of compensation for damage to an individual or a legal entity and is carried out by an insurance fund. After talking in detail about the essence of insurance, insurance payments and institutions operating

in this field, he said that insurance is a system of protection against risks arising in everyday life.

He also informed the participants of the seminar in detail about the importance of insurance in villages and large cities, functions, classes, types and benefits of insurance. Discussions were held on this topic and a number of questions were answered.

Note that the seminars take place from 2 to 4 June 2021. Additional information about the seminar can be found in the "Announcements" section of the isi.az website.