Tuesday, August 3 2010 17:57
RASCO joins Bureau of Motor Insurers of Armenia
ArmInfo. Aug 3 the Board of the Central Bank of Armenia granted the RASCO insurance company the status of member of the Bureau of Motor Insurers of Armenia.
The press service of the CB reports that the membership fee is 15mln AMD with additional 10mln AMD paid for current expenses. Jan 1 2011 the members of the bureau will start paying quarterly membership fee equivalent to 0.5% of their last year's revenues.
The members of the bureau are INGO ARMENIA, Nairi Insurance, Sil Insurance, Rosgosstrakh-Armenia, Garant Limens, Cascade Insurance and RESCO with 100mln AMD spent on its establishment in 2010.
The Bureau of Motor Insurers of Armenia was set up June 28 2010 for ensuring effective use of the motor third party liability system and coordinating the activities of motor insurers. The CB is also panning to create a centralized electronic database on motor insurance and an office of independence evaluators.
According to ArmInfo's Ranking of Insurance Companies of Armenia, Apr 1 2010 10 insurance companies had licenses for insuring land transport and motor third party liability. In Q1 2010 the amount of their premiums totalled 490mln AMD.