LAW OF THE AZERBAIJAN REPUBLIC

of March 12, 2002 No. 271-IIG

About compulsory ecological insurance

This Law establishes conditions and rules of obligatory civil liability insurance for the damage caused to life and health of the population, property and the environment in case of environmental pollution as a result of accidents guarantees protection of valuable interests of legal entities and physical persons, and also the state and municipalities.

Article 1. Basic concepts

1.0. The basic concepts used in this Law express the following values:

1.0.1. ecological insurance - civil responsibility insurance for the damage caused in case of environmental pollution as a result of accident;

1.0.2. dangerous source - the explosive and flammable, poisonous, contaminating and other hazardous substances posing threat for the population, property and the environment and also radioactive sources and sources of ionizing radiation (further - hazardous substances);

1.0.3. environmental pollution as a result environment avariizagryazneniye over limit, admissible for the corresponding territory, taking into account emission of hazardous substances in atmospheric air, water, their distribution on the Earth's surface and in subsoil as a result of accident and (or) technogenic disaster;

1.0.4. the damage caused to the environment - the means required for recovery of the parcels of land and water objects contaminated over limit, admissible for the corresponding territory, in case of environmental pollution as a result of accident and also the damage connected with pollution of atmospheric air, extermination of animal and flora;

1.0.5. the appraiser of insurance risk - the legal entity designated by the insurer with the consent of the insurer or the physical person who is engaged in business activity without creating the legal entity, independently estimating insurance risk and specializing in this area.

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