A Memorandum of Understanding on cooperation has been signed between the Azerbaijan Insurance Association (ASA) Public Union and the Academy of Public Administration Under the President of the Republic of Azerbaijan, Azernews reports, citing ASA.

ASA Executive Director Elmar Mirsalayev highlighted that the organization has previously collaborated with various higher education institutions and expressed optimism about the benefits of this new partnership.

Urkhan Alakbarov, Rector of the Academy, underscored the growing significance of insurance services in today's world and the crucial role of insurance mechanisms in risk management.

He noted that many Academy graduates are employed in state institutions and emphasized the importance of fostering similar connections with the insurance sector.