YEREVAN, September 23. /ARKA/. Armenia’s insurance companies paid nearly 6.8 billion drams in a total of 34,898 mandatory motor insurance compensations in January-August 2013, the website of Motor Insurers’ Bureau of Armenia reports.

Over 383.9 thousand vehicles were insured in Armeniain the reporting period (5.2% increase), with over 34,660 compensation payment applications filed (24% increase), according to the report. Only 361 applications were not met.

Compensations worth a total of 87.8 million drams (reduction of 50.3%) are under way currently.
Insurance premiums in Jan-August totaled nearly 11.5 billion drams, a reduction of 1.8% compared to the same period of 2012.

There are seven insurance companies operating in Armenia today.

Motor insurance became mandatory in Armenia as of January 1, 2011. Armenia’s Central Bank has been in charge of insurance market since 1 January 2006. ($1-406.71 drams). --0-