Thursday, August 4 2011 10:35
Motor Insurers' Bureau of Armenia holds a seminar on "Issues of introduction of motor third party liability insurance in the NKR"
ArmInfo. The Motor Insurers' Bureau of Armenia held a seminar on "Issues of introduction of motor third party liability insurance in the NKR" in Stepanakert.
ArmInfo correspondent in Stepanakert reports that it was pointed out at the seminar that there are 8 insurance companies in Armenia and Karabakh, which unify over 3,600 agents. Over Jan-June 2011a total of 349,000 agreements on motor third party liability (MTPL) were signed. The total MTPL payments amounted to 12 billion AMD (approximately 33 million USD), and compensations - 1.9 billion AMD (over 5 million USD); insured cases worth 677 million AMD (about 2 million USD) are still being considered.
The seminar raised the problem of insufficient awareness of MTPL. The surveys demonstrated that in a number of road accident cases the owners of cars did not apply to the insurance agencies. The experts pointed out that in Karabakh, like in the regions of Armenia, the car owners have lower awareness of MTPL than in Yerevan, and most of them have an insufficient idea of the MTPL functions.
MTPL was introduced in Karabakh on 1 January 2011 after the parliamentarians had approved and the president had signed the bill "On putting the Armenian Law "On motor third party liability insurance" into effect in the Nagorno-Karabakh Republic". About 20,000 cars in the NKR are to acquire MTPL policies.
The law provides an opportunity to the rural residents, who use their cars over the seasonal operations only, to insure their motor responsibility for several months. The cars, which are not exploited, are temporarily exempted from MTPL.
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