YEREVAN, December 23. /ARKA/. Armenia’s insurance sector accounted for a 59% loss rate in November 2014 against 60% in October 2014 and 76% in November 2013, the Bureau of Car Insurers reports at its website.
The permitted loss rates for car insurers in Armenia range from 75 to 78 percent under 22 to 25% insurance payout rate, on which payment calculation system is based.
There were 450,479 insured vehicles in Armenia on November 30, 2014. This number is larger than that of the previous month by 1,615.
The obligatory car insurance institution 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——
