YEREVAN, June 13, /ARKA/.Rosgosstrakh-Armenia insurance company paid 620 million drams in insurance payments over the first five months of this year, the company’s executive director, Gagik Grigorian, told a seminar, organized by the Russian-owned company for journalists covering economic issues.

He said the average payment was 200,000 drams and the largest payment so far was in the amount of 1.5 million drams. He said in 58 cases the payment was above one million drams.

The company processed 21,200 telephone calls since the inception of the mandatory insurance of vehicles on January 1, 2011. Overall, it registered 5000 accidents and the number of accidents in Yerevan was 2.6 time higher than outside it.

Gagik Grigorian said the company has received 3,040 applications for compensation of damages and has settled 2,670 of them. Nineteen applications were denied, he said. In an interview with ARKA Gagik Grigorian said the company collected about 4 billion drams in insurance premiums, but the figure dropped by 3.7 billion drams after part of contacts were terminated.

The mandatory insurance against physical damage caused to other cars and individuals became mandatory in the country on January 1, 2011 in accordance with a government-drafted law passed by the Armenian parliament last year.

Rosgosstrakh insurance company was founded in 2008 May. It is owned by Russian Rosgosstrakh. -0-