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Armenia plans to liberalize prices in car insurance market: Prime Minister

14.11.2012 20:37

Armenia plans to liberalize prices in car insurance market: Prime Minister

YEREVAN, November 14. / ARKA /. Armenian Prime Minister Tigran Sarkisian said the government plans to liberalize prices for mandatory insurance of vehicles, when speaking at Q&A parliament session today without specifying any date. He said now the government has a real picture of car accidents and a possibility to more accurately calculate the rates for mandatory insurance of vehicles.

The insurance against physical damage caused to other cars and individuals became mandatory in the country on January 1, 2011. According to official numbers, there are about 440,000 vehicles in Armenia.

The prime minister said before the introduction of mandatory insurance there were no precise statistics of road accidents, as not all of them were reported to road police. Sarkisian said the government shares the concerns of the parliamentary opposition concerning the situation on the insurance market.

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