Standard Insurance - Sizi Qoruyan Sığorta

Third Party Liability
“Standard Insurance” Company offers manufacturer’s liability insurance specially for companies involved in manufacturing. Reimbursement of damage caused by goods either produced or sold could negatively impact financial stability of any company, thus drawing away cash resources from its principal activity and even exposing to danger the existence of the company on the whole. The best way to recover from these risks lies in insuring liability for damage caused by manufactured or sold products. The object of insurance in this case will be property damage liability where damage has been sustained by consumer as a result of the use of goods manufactured or sold and/or consumer’s life and health hazard liability.
Reimbursed under this type of insurance are:
- property damage sustained by consumer;
- expenses incurred as a result of health recovery;
- other expenses related to life and health hazard of the person injured;
- court expenses;
- expenses related to legal assistance, including retainer costs .

Professional Indemnity
This type of insurance is provided to notary officers, chartered accountants, bailees, medical personnel, claim adjusters, realtors, customs brokers. In compliance with existing legislation the citizens of Azerbaijan Republic shall be entitled to claim property damage sustained through the fault of the representatives of the abovestated professions. There have been numerous cases when clients sustained losses due to professional negligence of these specialists as a result of which the latter had to pay considerable amounts to meet property claims raised against them. Errare humanum est. Therefore, "Standard Insurance" Company would like to offer you third party professional liability insurance thus assuming responsibility for your potential mistakes.

Employer’s Liability Insurance
Any industrial and economic activity is closely associated with a life and health hazard risk to people fulfiling their official responsibilities. In compliance with the existing legislation of Azerbaijan Republic an employer shall reimburse damage to life and health of his/her employees as a result of fulfilment of their professional duties.
One of the most reliable and effective ways of protection from expenses related to damage reimbursement liability is an employer’s liability insurance. Employer’s Liability Insurance Contract will enable you to minimize possible expenses related to reimbursement of damage caused to employees.
Insuring your liability would therefore mean assuming by the insurance company of all expenses related to identification of the circumstances pertaining to insured accident and calculation of the extent of damage as well as of all expenses to be sustained during court examinations.

WHO IS AN INSURER ?
Under Employer’s Liability Insurance Contract an Insurer could be any employer having hired personnel for conduct of industrial and economic activities in compliance with the legislation of Azerbaijan Republic.

WHAT IS AN INSURANCE OBJECT ?
An insurance object shall be employer’s protection from losses due to commencement of statutory liability for damages associated with bodily injuries received by employer’s personnel during conduct of their official duties.

INSURANCE RISKS
Physical damage shall be a damage to employees life and health (death, temporary or permanent disability, occupational diseases).
Insurance payment is made to person injured (his/her personal representatives).

SUM INSURED
Sum insured under Insurance Contract shall be established upon mutual agreement of the parties.
Upon execution of Insurance Contract maximum amounts of insurance payments per person insured and insured accident shall be established. Under Insurance Contract an Insurer shall bear responsibility within the extent of sum insured/insurance limit.

FRANCHISE
Franchise, or part of damage not covered by Insurer, is normally provided in all Insurance Contracts. Franchise is established in percentage from the sum insured or in hard currency. Franchise is effective in simplifying damage reimbursement procedures and reducing basic rates.

INSURANCE RATE AND INSURANCE FEE/PREMIUM
Insurance rates are established based on nature of business and on other factors of prime concern when it comes to identification of the degree of risk.
Cost of insurance (or insurance fee/premium) is identified based on basic rates established by Insurer. Rates are established individually for all clients and depend on the nature of Insurer’s business and other factors of prime concern for identification of risk degree as well as on insurance term, liability limits, extent of franchise.
Insurance fee/premium under Insurance Contract is calculated based on the amount of sum insured and agreed basic rates.

Public Liability Insurance
Daily life and any activities, including professional ones, are fraught with accident and emergency risks as a result of which anybody could become a cause of damage to life, health or property of third parties. Besides, a trivial remark “accidents could happen to everybody” is well-known.
So, what is the surest way to protect oneself from such risks? After all, in compliance with legislation damage to life, health or property of both physical and legal entities is subject to reimbusement in full by the person having caused such damage.
It is really easy! Liability insurance will solve all your problems related to reimbursement of unintentional damage caused to you. A liability insurance contract executed with "Standard Insurance" Company will be your real chance to minimize expenses on reimbursement of unintentional damage both to physical and legal entities.
Insuring your liability would therefore mean assuming by the insurance company of all expenses related to identification of the circumstances pertaining to insured accident and calculation of the extent of damage as well as of all expenses to be sustained during court examinations.

WHO IS AN INSURER ?
Under Overall Liability Insurance Contract Insurers could be any legal and physical entities.

WHAT IS AN INSURANCE OBJECT ?
Insurance object shall be Insurer’s property interests associated with his/her responsibility to reimburse damage to life, health or property of third parties in accordance with duly established statutory procedure.

INSURANCE RISKS
- Physical damage shall be a damage to life and health of physical entities (death, temporary or permanent disability, other injuries);
- Property damage shall be a damage to property of physical and legal entities (destruction, loss, damage) .

SUM INSURED
Sum insured under Insurance Contract shall be established upon mutual agreement of the parties.
Upon execution of Insurance Contract maximum amounts of insurance payments per each insured accident shall be established. Under Insurance Contract an Insurer shall bear responsibility within the extent of sum insured/insurance limit .

FRANCHISE
Franchise, or part of damage not covered by Insurer, is normally provided in all Insurance Contracts. Franchise is established in percentage from the sum insured or in hard currency. Franchise is effective in simplifying damage reimbursement procedures and reducing basic rates.

INSURANCE RATE AND INSURANCE FEE/PREMIUM
Cost of insurance (or insurance fee/premium) is identified based on basic rates established by Insurer. Rates are established individually for all clients and depend on the nature of Insurer’s business and other factors of prime concern for identification of risk degree as well as on insurance term, liability limits, extent of franchise.
Insurance fee/premium under Insurance Contract are calculated based on the amount of sum insured and agreed basic rates.

WHERE TO INSURE ?
Just call our office and feel the difference in:
- individual approach
- efficiency
- professionalism
- flexible basic rates

We are always ready to prepare you a comprehensive package tailored to protect your property and interests at a reasonable price.
For more detailed information please contact us on: (+99412) 497-37-60, (+99450) 225 7515
Or visit our offices at 94, Shamsi Badalbeyli St., opposite ticket office of the Palace of Republica

ALSO, OUR COMPANY OFFERS THE FOLLOWING TYPES OF LIABILITY INSURANCE:
- Professional Liability Insurance
- Manufacturer’s Liability Insurance .