Monday, December 20 2010 18:49

Motor Insurers Bureau of Armenia approves 20 applications for appraisal activities in the framework of motor third party liability insurance program


ArmInfo. The Motor Insurers Bureau of Armenia has approved almost 20 applications for appraisal activities in the framework of the motor third party liability insurance program.

The press service of the Bureau reports that they have received some 25 applications so far.

The requirement for selecting appraisal companies was approved and enacted by the Central Bank of Armenia Dec 3 2010. The same requirement specifies procedures and methods for appraising the damages caused by a road accident. There is also a requirement stipulating procedures and methods for detecting the causes of the accident.

According to the requirements, appraisal companies should consist of at least two experts: one will appraise the consequences of an accident, the other - its causes.

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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