YEREVAN, April 22. /ARKA/. Armenia’s insurance companies paid a total of about 2,763.6 million drams in 13,947 compensations for mandatory car insurance in the first quarter of 2013, Armenian Motor Insurers’ Bureau reported.
There are more than 367,800 motor vehicles insured in Armenia as of Q1, 2013, according to the report. There were over 13,799 claims filed for car insurance compensation in the reporting period; only 99 of them were turned down, the Bureau’s website reports.
Claims payments worth a total of 148.69 million drams are currently in process.
Insurance premiums totalled to about 7.4 billion drams in the period.
There are currently seven insurance companies operating in Armenia’s insurance market. The mandatory car insurance was introduced in the country as from January 1, 2011.
The central bank is the regulator of the country’s insurance industry. ($1=416.39drams). –0–
