Wednesday, January 12 2011 19:22

Rosgosstrakh Armenia makes first Motor Third Party Liability insurance payments worth 9 mln AMD


ArmInfo. On January 12 the insurance company Rosgosstrakh Armenia made the first Motor Third Party Liability (MTPL) insurance payments worth 9 mln AMD, the company's press service told ArmInfo. Over the first 11 days of 2011 a total of 234 insurance cases were registered – averagely 21 road accidents daily. The first insurance case was registered by the company Jan1 night.

According to the company, the overwhelming majority of the insurees preferred to receive the compensation in cash. 5 cars insured in the company have already been sent to the organizations for technical service and repair having relevant agreement with Rosgosstrakh Armenia.

The company said that most of the statements about road accidents fell on January 1 and 11, when 35 and 49 accidents respectively were fixed. No insurance cases were registered on the Christmas night.

To recall, according to the MTPL Rules, insurance payments are first of all made by coordinated declarations, i.e. by a simplified scheme requiring no additional documents. The maximum amount paid by the company by the coordinated declaration is 200,000 AMD, and the minimum amount was 30,000 AMD.

To recall, Armenian insurers started selling MTPL policies starting 18 Oct 2010. The Law on MTPL came 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. The Armenian Police started fining drivers for the lack of MTPL policies on Jan 10. The fine is 50 thsd AMD.
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