Armenia may join Green Card international motor insurance system

03.02.2016 14:32
Armenia may join Green Card international motor insurance system

YEREVAN, February 3. /ARKA/. Armenia may become a member of Green Card International Motor Insurance System soon, Vahan Avetisyan, executive director of the Car Insurers Bureau, said Tuesday at a news conference summarizing the results of the first five years of obligatory motor insurance in the country.

An International Motor Insurance Card System is an arrangement between authorities and insurance organizations of multiple states to ensure that victims of road traffic accidents do not suffer from the fact that injuries or damage sustained by them were caused by a visiting motorist rather than a motorist resident in the same country. Forty seven countries are members of the system.

Avetisyan said that Armenia applied for joining Green Card in December 2015. As a rule, the accession formalization procedure lasts one to years.

The number of insured cars has grown from 390,457 in 2011, when mandatory car insurance was introduced in Armenia, and the number of mandatory car insurance compensation contracts has grown from 25,313 to 41,203 over these five years. ---0----

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