YEREVAN, October 12. /ARKA/. Armenia’s insurance companies paid nearly 5765.3 million drams in 27, 019 mandatory motor insurance compensations within January-August 2012, according to the data published on Motor Insurers’ Bureau of Armenia.
“As of August 31, over 364.7 thousand vehicles are insured in Armenia, compensation payment applications account to over 27.9 thousand . Only 348 applications were not implemented,” the source says.
Moreover, compensations valued at 176.5 million drams are currently processed.
Insurance premiums within Jan-August totaled nearly 11.8 billion drams. There are seven insurance companies in Armenia.
Motor insurance became mandatory in Armenia on January 1, 2011.
Central Bank has been in charge for insurance market of Armenia since 1 January 2006. ($1-406.67 drams).—0-
