YEREVAN, March 16, /ARKA/. Armenian insurance companies have paid over 500 million Drams in car insurance payments since the start of the year when the mandatory insurance against physical damage caused to other cars and individuals came into force, Vahan Avetisian, head of the Car Insurers Bureau, told a news conference today.

The mandatory insurance is against physical damage caused to other cars and individuals. Of some 430,000 or so vehicles registered in Armenia , more than 3% have been granted a temporary exemption from the requirement allowed by the law.

According to Vahan Avetisian, another 630 million Drams in insurance payments are to be paid in the next few weeks. He said a total of 10.1 billion Drams in insurance premiums have been collected so far. According to the Car Insurers Bureau, some 58 car accidents are reported daily in the country. Overall, 3,700 car accident reports have been received from the beginning of the year. He also said the difference between the amount of collected insurance premiums and payments is 55-60%. ($1 – 368.09 Drams). -0-