ARMENIA TAKES A STEP FORWARD IN CIVILIZED SOCIETY BUILDING

PanARMENIAN.Net
12.02.2010 16:21 GMT+04:00

/PanARMENIAN.Net/ Today, February 12 RA National Assembly hears drafts
law on Compulsory Auto Liability Insurance, centering around social
aspects of the bill discussed.

According to the chairman of the NA Standing Committee on
Financial-Credit, Budgetary and Economic Affairs Gagik Minasyan,
the bill will allow for road accidents’ prevention and defence of
injured party’s interests. "The new insurance system is another step
forward in civilized society building," he stated.

CBA Vice President Vache Gabrielyan , in turn, noted that the law
on Compulsory Auto Liability Insurance will boost development of
insurance market in Armenia, raise competitiveness level and lay
foundation for insurance culture in the country.

The draft law on Compulsory Auto Liability Insurance will become
effective from the year 2011, PanARMENIAN.Net correspondent reported
from RA NA.