Friday, February 5 2016 17:22

ArmInfo. Bureau of Motor Insurers of Armenia suggests including the period of delay with MTPL policies into the credit history car owners, Vahan Avetisyan, the Executive Director of the Bureau of Motor Insurers told a news conference on February 2.

"The Bureau suggests considering the delays with making the contracts as an indicator of the creditworthiness," Avetisyan said. He explained that the car owners avoiding to make MPTL policies are increase the burden of the guarantee funds and threaten their sustainability.  It is known that the Bureau is compensating the damage caused to third parties and the public by the car owners having no MTPL policies.

"Besides administrative fines, the Bureau of Motor Insurers suggests some changes to the tariffs. In particular, the car owners who make MTPL policies in time will receive tariff discounts, while the tariffs will be toughened for the ones who delay with the policies," he said.

He recalled that before MTPL was introduced in Armenia, the statistics of road accidents was not accurate. Then only 2,000 road accidents were registered in average per year, while now this figure has reached 40,000-45,000 per year.

The MTPL was introduced in Armenia on Jan 1 2011.  The Bureau of Motor Insurers of Armenia was set up June 28 2010 for ensuring effective use of the motor third party liability system and coordinating the activities of motor insurers.