YEREVAN, October 16./ARKA/. Armenian insurance sector’s loss rate on car insurance was 58% in September 2014 against 57% in August 2014, the Car Insurers Bureau of Armenia reports on its website.
In September 2013, the insurance sector’s loss rate stood at 75%.
The permitted loss rate on car insurance is 75 to 78% in Armenia under a 22-to-25-percent minimum or maximum car insurance payment rate, which is taken as basis for calculation of car insurance costs.
There were 447,910 insured transport vehicles in Armenia by September 30, 2014. This figure is larger than that of August by 1,589.
The obligatory car insurance was introduced in Armenia on January 1, 2011. The country’s insurance market is controlled by the Central Bank of Armenia.
Seven insurance companies operate in Armenia now. —-0—-
