For legal entities

 

1. At least two contracted staff members of the legal entity willing to obtain license for insurance business must pass the attestation by FIMSA;

2. The head of executive office of Insurance broker who is legal entity or legal entity created as insurance broker must pass the attestation by FIMSA for an insurance broker business;

3. Investor or participant of the insurance broker legal entity must not be in the position with the authority to control, regulate or put pressure on insurance activities.

 

Other required documents to obtain license

1. The copy of the state registration with Notarial certification or certified according to the Article 9 of the Law of Azerbaijan Republic on “Administrative Proceedings”;

2.The copy of Charter with Notarial certification or certified according to the Article 9 of the Law of Azerbaijan Republic on “Administrative Proceedings”;

3. Documents certifying the compliance of the chief executives to the requirements of the Law Number 91;

91.2. Chief executives of legal entity of insurance brokers must have university degree and have safe background clearance.

 91.3 Chief executives of legal entity of insurance brokers must have following work experience:

91.3.1. Chief or deputy chief of executive office – at least 2 years of experience in financial sector;

91.3.2. Head accountant – at least 2 years as head accountant)

4.  Original copy of the document certifying the payment of state fee on obtaining license for insurance brokers.