ArmInfo. In the system of compulsory motor third party liability insurance (CTP) in Armenia, digital technologies will begin to be applied. The decision on this was made at a meeting of the RA Government on October 10.
Presenting the draft decision, RA Minister of Finance Atom Dzhandzhugazyan emphasized that the project was developed by the Central Bank and was designed to significantly reduce the workflow by introducing digital technologies. In addition, some provisions of the current regulations are being streamlined, which will be applied after their approval by the Auto Insurers Bureau. In turn, Deputy Prime Minister Tigran Avinyan drew attention to the problems of traffic jams. He called on the Ministry of Territorial Administration and Infrastructure, together with the Central Bank, to discuss possible solutions to this issue. The Vice Prime Minister emphasized that often due to traffic accidents many kilometers of traffic jams form, which, in turn, lead to the emergence of risks of new accidents. "We hope to get solutions to this problem within two months," said the Deputy Prime Minister.
It should be noted that the Bureau of Auto Insurers of Armenia updated the procedure for contractual relations with expert organizations, in particular, reduced the time for conducting a repeated examination to 3 working days, and reduced the fee for it to 5000 drams. Re-examination is aimed at protecting the rights of victims of an insurance accident under compulsory motor third-party liability insurance, and is provided for cases where victims do not agree with the assessment of the degree of guilt and / or the amount of damage caused by an accident received from the insurance company. From this moment, drivers participating in road accidents with damage not exceeding 100 thousand drams can, without calling an insurance officer and a representative of the Traffic Police, independently fill out an agreed declaration, attach photos from the scene of the accident and send this package to the appropriate insurance company. According to the data of the Bureau of Auto Insurers of Armenia, by January 1, 2019, there are 508,297 units of vehicles with a valid MTPL agreement. A year earlier they were 497838, an increase of 2.1%. By January 1, 2019, the number of concluded CTP insurance contracts reached 902365 (annual growth of 11.4%), under which the volume of insurance premiums amounted to 19.6 billion drams (annual growth of 5.5%). Of this number, 1.9% or 17550 were concluded electronically. According to the results of 2018, CTP loss was 72.7%, against 65% a year earlier. According to the ranking of insurance companies of Armenia, prepared by IC ArmInfo, as of January 1, 2019, there are 6 insurance companies in Armenia and there are 2,794 insurance agents. The share of OSAGO in total insurance premiums decreased by January 1, 2019 to 48.82%, against 54.41% as of January 1, 2018. The volume of insurance premiums for compulsory motor third-party liability insurance increased by 5.3% on an annualized basis to 20.02 billion drams, with an increase in indemnities of 15.9% to 13.5 billion drams, against the growth of these indicators a year earlier, by 4.4% and 32.7%, respectively.