ArmInfo. The Motor Insurers' Bureau of Armenia has announced an increase in the maximum damage threshold under the Euro protocol to 400 thousand drams from the previous 200 thousand drams effective from September 18 of this year.
As noted in the Bureau's message, the relevant changes and additions to the "General Conditions of Compulsory Motor Liability Insurance" (hereinafter referred to as the Rules) were approved by the Council of the Motor Insurers' Bureau of Armenia and registered by the Central Bank of the Republic of Armenia on September 3. The above-mentioned Rules have been amended because the Bureau has received numerous requests and complaints regarding traffic jams caused by road accidents. Additionally, this issue was recently brought up by the RA government and extensively discussed in the RA National Assembly last year. Considering this situation, the maximum limit of compensation under the Europrotocol has been invreased to 400 thousand drams (when filling out an agreed declaration through the ASWA mobile application) and several changes have been made to the Rules:
A more detailed version of this announcement can be found on the website of the Armenian Insurers Bureau at the link: https://appa.am/index.php?al=announcements&pid=2&id=597&act=more The purpose of this change is to further reduce congestion on the capital's roads due to minor accidents, the participants of which can independently declare an insured event under the Europrotocol and, along with photos from the scene, send it to the insurer through the ASWA application. The Bureau of Motor Insurers reminds that the ASWA mobile application can be downloaded free of charge from the App Store and Google Play Store platforms on smartphones with the iOS 8 or Android 4.1 newer operating system. The links to the ASWA mobile application on the App Store and Google Play Store platforms are as follows: https://apps.apple.com/am/app/aswa/id1496323455 and https://play.google.com/store/apps/details?id=am.aswa.aswa . More detailed conditions and recommendations regarding the registration of insurance cases under the Europrotocol are posted on the website of the Bureau of Motor Insurers of Armenia under the link: https://www.appa.am/index.php?al=agreed_declaration .
To note that in Armenia the system of registration of insurance cases under the Europrotocol in the OSAGO market was introduced in March 2016, initially with a damage threshold of up to 50 thousand drams, subsequently increased to 100 thousand drams in September of the same year. Starting from August 2020, another threshold followed to 200 thousand drams, and now from September 18, 2024, an increase to 400 thousand drams is expected. According to the Bureau of Motor Insurers of Armenia, as of August 1, 2024, there were 668,278 thousand vehicles with OSAGO contracts in Armenia, with an annual growth of 5.8%. However, the number of active contracts amounted to 732,779 thousand (minus terminated ones - 664,384 thousand). In the total number of MTPL contracts, the share of E-policies increased over the year from 24% to 32%, amounting to 228,949 thousand, with an annual increase in the number of 27.7%. The volume of compensation paid in cases of simplified registration of accidents (Europrotocol) increased over the year by 28.1% - to 1.3 billion drams ($3.5 million), and the average size of one payment increased by 12.4% - to 93,558 thousand drams ($241).
