YEREVAN, July 3. / ARKA /. Rosgosstrakh Armenia insurance company said today in a press release that its security service had prevented more than 30 attempts of fraud since the beginning of the year totaling 19 million drams.

The Russian-owned company said law enforcement authorities have opened criminal cases into three cases of frauds and local first instance courts have issued two guilty verdicts on two other fraud cases.
"In one of the fraud cases three Armenian citizens were convicted of trying to get compensation in the amount of 592,000 drams. The court ruled that each of them pay a fine from 600 to 700 minimum wages," the company said.

In the second case, two residents of the town of Noyemberyan were accused of staging a road accident in order to claim 990,000 drams in compensation for the damage that had been caused to their cars before. The court ruled that each pay a fine of 500 minimum wages.

Rosgosstrakh Armenia said also the number of cases when the owner of the car that was damaged most presented himself as the affected party in a bid to claim the highest possible compensation has reduced sharply this year, largely due to introduction of Bonus Malus system earlier this year, making not guilty motorists refuse to take on someone else's fault, because that affects their insurance history and increases the cost of their insurance policy.

Rosgosstrakh Armenia was established in May 2008. It is owned by Russian Rosgosstrakh.  Its authorized capital is 3.44 billion drams (8.3 million U.S. dollars).  Rosgosstrakh Armenia has 46 offices, including 18 branches and 13 sales offices in Yerevan and 33 in large regional centers and cities.
In December 2011, Rosgosstrakh Armenia was the first Armenian insurance company to receive requirements compliance certificate ISO 9001:2008 from Moody International. -0-