Yerevan/Mediamax/. Sale of Compulsory Insurance of Vehicle Owners’ Civil Liability (CIVOCL) policies was launched in Armenia today. They will come into effect since January 1, 2011.

According to the law on “Compulsory insurance of liability, based on use of car transport means”, the system of Compulsory Insurance of Vehicle Owners’ Civil Liability will be implemented in Armenia since January 1, 2011. By that time, all owners of car transport means will have to have insured their cars.

Since June 28, Armenian CB Council has registered a self-regulating organization: “Bureau of Car Insurers of Armenia” union of legal entities, the main goal of which is protection of interests of people, who suffer from traffic accidents, and provision of stable development of the system of Compulsory Insurance of Vehicle Owners’ Civil Liability.

The following insurance companies have become members of the “Bureau of Car Insurers of Armenia”:

“Nairi Insurance”, “Sil Insurance”, “INGO Armenia”, “Rosgosstrakh-Armenia”, “Garant-Limens”, Cascade Insurance”, “RESO” and “Rasco”.

On October 15, Central Bank (CB) of Armenia published the approved tariffs for policies of Compulsory Insurance of Vehicle Owners’ Civil Liability (CIVOCL).