Monday, February 14 2011 18:33

Armenian insurers pay off 150 mln AMD on motor third party liability insurance


ArmInfo. Since the Law on Motor Third Party Liability Insurance (MTPL) came into force, the total volume of insurance compensation of Armenian insurers has amounted to 150 mln AMD, the Motor Insurers' Bureau of Armenia told ArmInfo. According to the source, the insurers will also pay down about 168 mln AMD more for the earlier road accidents, the expert examination of which has not been completed yet.

The Bureau said that as of 9 Feb 2011, the number of drivers having MTPL insurance was 333.3 thsd or about 80% of all the car owners. Over 13 thsd cars were struck off the register. In total, the insurance companies of Armenia have received about 3600 telephone calls since the Law on MTPL came into force. 1248 of them were registered in the written form.

To recall, the Law on MTPL came into force on 1 Jan 2011. The Armenian insurers started selling MTPL policies on 18 Oct 2010. The Police of Armenia started fining the drivers for the lack of polices on January 10. The fine makes up 50 thsd AMD.
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