Wednesday, March 9 2011 23:10

INGO ARMENIA: Three insurance lines will become compulsory in Armenia in short-term outlook


ArmInfo. Three insurance lines will become compulsory in Armenia in the short-term outlook: medical, environmental risks and employers' liability insurance, Levon Altunyan, Executive Director of INGO ARMENIA insurance company said in a press conference on Wednesday.

He said that development and establishment of the compulsory insurance institute in Armenia will help insurers form a well-functioning insurance infrastructure which will help insurers develop and make popular voluntary insurance lines. He is sure that the path to the civilized world is the opportunity to be predictable for the world. Only a solvent citizen, and self-sufficient country and people could be predictable, he said.

Commenting on insurance indemnities of INGO Armenia company, Altunyan said that the biggest indemnity in the amount of 150 million drams the company paid as part of the property insurance in 2010. Medical insurance indemnities cost the company 4.6 mln drams, overland transport insurance -12 mln drams. Such figures show how urgent is insurance in Armenia.

As regards the rapidly growing statistics of road accidents, the insurers said that over 17 days of January the Armenian insurance market registered the whole official statistics of road accidents of the previous year. He said that the number of road accidents laid in the basis of actuarial calculations should have been much higher in reality. These figures will become more circumstantial in Sept-Oct 2011.
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