Panorama.am

15:53 02/05/2008

A. DJAVADYAN: `SERIOUS REFROMS IN INSURANCE ASPECT’

`The laws on conducting reforms in insurance field,
provided by the Central Bank are quite serious ones
and they are also being implemented,’ said Arthur
Djavadyan, the vice president of the CB, today in
`Finance, Loan and Audit’ EXPO 2008.

According to him CB has tried to carry out the reforms
in insurance field in Armenia which it has done in
banking system. `First we cleaned up the market from
the small pocket insurance companies. Prior to these
20 insurance companies were running business but
currently only 8 do,’ said Djavadyan.

As for the consumers’ rights protection, he answered
that they have sent a document to the NA and will
start discussions in this regard.

Source: Panorama.am