STEPANAKERT, January 31, /ARKA/. Nagorno-Karabakh motorists have bought so far over 8,000 mandatory car insurances, Nagorno-Karabakh finance minister Spartak Tevosian said last week to a news conference.
According to him, out of 17,000 motor vehicles registered in the republic 12,000 are subject to mandatory insurance. The finance minister said Nagorno-Karabakh’s law on mandatory insurance of cars is identical to Armenian law.
Auto insurance covering physical damage caused to other cars and individuals became mandatory in Nagorno-Karabakh on January 1, in accordance with a government-drafted law passed by its parliament last November.
Under the law, drivers caught not possessing such policies are to be fined 50,000 drams. Car insurances in Nagorno-Karabakh are sold by Ingo Armenia and Nairi Insurance companies. ($1 -362.26 Drams). -0-
