ArmInfo. Armenia has applied for joining Green Card international motor insurance card system, Vahan Avetisyan, Executive Director of the Bureau of Motor Insurers, told ArmInfo. He said the application for membership has been accepted and Armenia is expected to undergo a long procedure of admission (1-2 years).
Green Card International Motor Insurance Card System is an arrangement between authorities and insurance organizations of multiple states to ensure that victims of road traffic accidents do not suffer from the fact that injuries or damage sustained by them were caused by a visiting motorist rather than a motorist resident in the same country. Additionally to extending the insurance coverage territorial scope such systems have the benefit for motorists to avoid the need to obtain insurance cover at each of the frontiers of the countries which they visit.
The Green Card System is a protection mechanism for victims of cross-border road traffic accidents. It consists of 48 member countries (most of European countries, as well as Morocco, Tunisia, and Iran) represented by 47 National Insurers' Bureaux.
The insurance amount is not limited. At the same time, the indemnity amount cannot exceed the compulsory insurance indemnity stipulated by the laws of the country where a road accident happens. The insurance period is 15 days - up to 1 year. After joining the Green Card system, Armenia's insurance companies will get a right to sell relevant insurance policies. The Bureau of Motor Insurers will assume compensation of the losses of foreign drivers having relevant insurance policies.
Russia -Armenian drivers travel to that country more than elsewhere - joined the system on Jan 1 2009. Georgia has not introduced the motor third party liability insurance and cannot be a member of the Council of Bureaux.
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