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Armenia is developing a concept for mandatory insurance against damage from natural disaster

YEREVAN, March 24. /ARKA/. The idea of compulsory insurance of damage from natural disasters is being discussed in Armenia.

As Deputy Minister of the Interior Armen Mkrtchyan noted during a discussion on the draft law concerning the management of natural disaster risks and population protection, the choice of the insurance model and other regulations will be established through by-laws.

“Discussions have been held with the leadership of the Central Bank and relevant services, and further discussions with insurance companies are also planned,” Mkrtchyan said at a meeting of the parliamentary committee on defense and security on Monday.

In addition, he mentioned that this draft law aims to expand digital tools for managing natural disaster risks and protecting the population.

“In particular, to facilitate the management of these processes, it is planned to make all disaster risk management plans and emergency response procedures digital and quickly accessible,” the deputy minister noted.

According to him, the authorized body will be empowered to maintain a unified electronic information system.

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