CTPL Insurance arising out of usage of immovable property

According to the paragraph 42.2 of “Compulsory Insurance” law of Azerbaijan Republic, it is obligatory to insure liability of the Juristic and Natural persons arising out of usage of immovable property (buildings, structures, installations, premises) used for their business.

“Complusory Third Party Liability Insurance arising out of usage of immovable property” covers liability of an Insured arising out of bodily injury and loss of/or damage to property of third parties as a result of use of the named property as well as construction, repair, renovation and other works on the site of the named property.