ArmInfo. At the end of 2017  at the meeting of the Armenian parliament in the first reading  amendments were made to the RA Civil Code concerning restriction of  the rights of commercial banks and credit organizations of Armenia in  the accrual of fines and penalties. To learn more about the specifics  and consequences that these changes can bring with them, ArmInfo  talks to the Financial Ombudsman of Armenia, Mrs. Piruz Sargsyan.

ArmInfo. In 2018, the office of the finombudsman of Armenia will work on the introduction of an electronic system for receiving and reviewing complaints. On the eve of the final press conference timed to the 9th anniversary of the Office of the Financial Mediator in Armenia, on Friday, January 24, the financial commitee of the RA, Piruz Sargsyan, stated.

ArmInfo. Following the results of 2017 with mediation of the financial ombudsman, financial organizations paid compensations worth 181.3 million drams.  Finombudsman of Armenia Piruz Sargsyan said this on January 24 during the final press conference timed to the 9th anniversary of the office of the financial reconciler in Armenia.

ArmInfo. The best partners of Finimbudman of Armenia in 2017 were the insurance company "Nairi  Insurance" and Unibank. As Piruz Sargsyan, the head of the office of  the Finumbudsman of Armenia, stated at a press conference on January  24, these financial organizations distinguished themselves by the  quality of cooperation and the number of cases resolved by  conciliation of the parties.

ArmInfo. Armenian office of  Finance Ombudsman pretty effectively resolves disputes between  natural persons and financial organizations. Such an opinion was  expressed by the qualified Italian mediator Corrado Mora on May 25,  answering a question from ArmInfo, who arrived in Yerevan on May  25-26 at the annual 7th conference on "Strengthening public  confidence to Finance Ombudsman Institute and increasing the role of  financial intermediation."

ArmInfo. Ardshinbank and  INGO Armenia insurance company are recognized the best partners of  Financial System Mediator of Armenia in 2016 for the quality of  cooperation and the number of cases solved by conciliation of the  parties, Financial System Mediator Piruz Sargsyan stated today at the  press conference attached to the 8th anniversary of Financial System  Mediator Office establishment in Armenia.

ArmInfo. In 2016, the major  part (49.3%) of the individuals' complaints submitted to the Armenian  Financial Mediator's Office falls on the insurance sector. 70% or  1154 complaints concern the motor third party liability (MTPL)  insurance contracts (including the Motor Insurers' Bureau), Financial  Mediator Piruz Sargsyan said at a press conference on Jan 24. She  noted that in 2016 as many as 2336 complaints about insurance  (including 1248 in the written form) were submitted to the Financial  Mediator's Office. 

ArmInfo. Experience of the  Armenian Office of Financial System Mediator gained in 8 years of its  operation in the country has been recognized the best in CIS by  international partners, Financial System Mediator Piruz Sargsyan  stated today at the press conference attached to the 8th anniversary  of Financial System Mediator Office establishment in Armenia. She  noted that the number of complaints grew by 15% to 4735 in 2016,  major part of which (87% or 4118) are complains related to financial  system with 26% y-o-y growth. 

ArmInfo. Insurance companies account for 80% or 176.7 million drams of total compensations paid to privates in 2015 through mediation of financial ombudsperson, Piruz Sargsyan, financial mediator/ombudsperson of Armenia, told a news conference today, on January 25.  She said most of the complaints submitted to the Financial Ombudsperson's Office are over the motor third-party liability insurance (MTPL), which is the most disputable issue for both the financial organizations and individuals.