Monday, December 20 2010 18:48

About 20% of car owners acquire insurance policies within 12 days before law on Motor Third Party Liability Insurance comers into force


ArmInfo. About 20% of car owners have acquired insurance policies within 12 days before the law on Motor Third Party Liability Insurance (MTPL) comes into force, the press service of Motor Insurers Bureau of Armenia told ArmInfo.

There are over 400 thsd automobiles in Armenia, among them over 260 thsd passenger cars, over 15 thsd buses, and about 55 thsd trucks. According to the latest data as of 2007, the average age of the car park is 12 years. Experts estimate the MTPL market volume in Armenia at 13-14 bln AMD (38 mln USD).

To recall, Armenian insurers started selling MTPL policies starting 18 Oct 2010. The Law on MTPL will come into force on 1 Jan 2011. According to the tariff plan worked out by the Motor Insurers Bureau and approved the Central Bank of Armenia, the minimum amount of the insurance premium is 18634 AMD, and the maximum one is 110313 AMD.
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