ArmInfo. From now on, a MTPL insurance event below 50,000 AMD can be settled upon mutual consent of drivers without calling an insurance officer. Arthur Javadyan, the head of the Armenian Central Bank, made such a suggestion at the Government on February 18. He said drivers can just inform their insurers of the road accident, sign a joint manifesto and enclose photos of the accident to it and send it to the insurance company.
Prime Minister Hovik Abrahamyan welcomed the CB's initiative saying it will speed up the procedure of registering an insurance event and help avoiding traffic jams. He recalled that 6,000 insurance events for up to 50,000 drams were registered in 2015 versus 9,500 in 2014.The prime minister suggested increasing the upper ceiling to 100,000 drams, as such insurance events account for 32% of total. However, Javadyan said, insurance companies are not ready to increase that amount so far. The government will return to the issue in 2-3 months.
According to ArmInfo's Ranking of Armenian Insurance Company, in 2015, MTPL insurance events totaled 41,920 versus 50,601 in 2014. MTPL indemnities totaled 8.5 bln drams in 2015 versus 9.8 bln drams in 2014. The leader by the MTPL indemnities is RosGosstrakh-Armenia - over 35% of total in the market.
The insurance market encompassing 6 companies - Rosgosstrakh Armenia, INGO Armenia, RESO, Nairi Insurance, Armenia Insurance, and Sil Insurance - provides 17 out of the registered 19 non-life insurance lines, except railway transport insurance and insurance against judicial and extra-judicial expenses.
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