This type of insurance provides for the payment of insurance payments in connection with the loss of professional working capacity or death of the insured as a result of damage to their life and health due to accidents at work and occupational diseases.
The following are obliged to conclude a contract for this type of insurance:
Enterprises, institutions and organizations operating in the Republic of Azerbaijan, regardless of their ownership and organizational-legal form, having the status of a legal entity established in accordance with the legislation of the Republic of Azerbaijan or a foreign state, their branches and representative offices;
State bodies;
Individuals engaged in entrepreneurial activity without creating a legal entity;
Elected bodies;
Individuals engaged in entrepreneurial and labor activities on an individual basis.
The following are subject to compulsory insurance against loss of professional working capacity as a result of industrial accidents and occupational diseases:
Persons performing labor functions on the basis of an employment contract or civil-legal contract concluded with a legal entity or an individual engaged in entrepreneurial activity without forming a legal entity in accordance with the Labor Code or the Civil Code, civil servants working in a state body and other employees working in selected paid positions subject to compulsory state social insurance, students and pupils undergoing industrial experience (training);
Military personnel involved in work at enterprises;
Persons involved in the prevention and elimination of natural disasters and their consequences, as well as in the performance of work in the military and emergency regimes;
Individuals engaged in entrepreneurial and labor activities on an individual basis.
In accordance with the Labor Code, foreigners and stateless persons engaged in labor activities in the Republic of Azerbaijan must also be insured.
The insurance premium under the insurance contract is determined based on the product of the annual salary fund of the persons in favor of whom a compulsory insurance contract must be concluded, calculated in accordance with the procedure established by the relevant executive authority, and the insurance tariff. Insured event - a circumstance that serves as the basis for the payment of the insurance premium to the beneficiary in connection with the loss of professional working capacity or death of the insured as a result of an accident at work or occupational disease during the period of validity of the compulsory insurance contract.
Insurance payments under the contract are made in the following cases:
Death as a result of an accident at work or occupational disease;
Loss of professional working capacity as a result of an accident at work or occupational disease.
The following insurance payments are made under the contract:
Monthly insurance payment. is monetary compensation paid to the beneficiary in exchange for the lost monthly salary due to the loss of professional working capacity of the insured in the event of an insured event.
Lump-sum insurance payment. is a lump-sum payment of the monthly insurance premium amounts in accordance with the procedure established by law.
