Law of the Republic of Azerbaijan “on Insurance activity”
The Law of the Republic of Azerbaijan on Amendments to the Civil Code of the Republic of Azerbaijan.
Pursuant to the newly introduced changes in the Law of the Republic of Azerbaijan on “Insurance activity” (Insurance Law), a new article was added to the Civil Code of the Republic of Azerbaijan (Civil Code).
According to the new article 921.6.: in case of application of a moratorium on the insurer, the indemnification of the insurance indemnity due to the premature termination of the insurance contract shall be suspended for the duration of the moratorium.
It should be noted, that article 921 of the Civil Code is about the effects of early termination of the insurance agreement.