Yerevan/Mediamax/. Armenian Financial Ombudsman’s Office and the Motor Insurers Bureau of Armenia  signed a cooperation agreement on protecting the interests of clients of Compulsory third party motor vehicle liability insurance (CTP).

As Director of the Bureau Vahagn Avetisian said at a press conference in Yerevan today, the agreement envisages exchange of information, public awareness, organization of joint events aimed at the protection of interests of CTP clients.

Financial Ombudsman of Armenia Piruz Sargsian said that during the period of existence of CTP in Armenia the Office has received numerous telephone complaints and 29 written complaints and appeals.

“The problem is that the public is not well informed about CTP, as many requirements of the citizens do not correspond to the obligations of our Office,” Piruz Sargsian said.

Vahan Avetisian said that due to the cooperation with the Office of Armenian Financial System Ombudsman the Bureau will operatively receive information about CTP infringements and take relevant measures.

He also said that nearly 83% of vehicle owners of Armenia have already acquired CTP polices.

When asked by Mediamax about possible cases of fraud by the drivers in order to get big compensations, Vahan Avetisian said that there have been attempts of changing the scenario of car incidents but they were not massive. According to him, the Law on CTP gives full opportunity to prevent fraud.

“Starting from 2013, a bonus-malus system will come into force, which will regulate the amount of insurance payments and conduct insurance history of the drivers. I call on everybody to abstain from fraud, although today there are no serious problems in this sphere in Armenia,” Director of Motor Insurers Bureau of Armenia stated.