Insurance services tariff raise expected in 2009

PanARMENIAN.Net - Insurance services tariffs raise is expected in Armenia, INGO ARMENIA Insurance Company Director said.



"The quality of services and qualification of insurance specialists improves day by day in the developing market, what results in tariff raise both for insurance and reinsurance," Levon Altunyan told PanARMENIAN.Net



Giving his assessment of the Armenian social insurance market, Altunyan noted that average market capacity growth of 20 percent was registered.



"INGO ARMENIA share on the insurance market totals 25-27 percent, today that would equal AMD 8-10 billion. Insurance specialists forecast a considerable market capacity growth. CB-created Law on Obligatory Insurance will result in 50 percent growth of insurance market within 2 years," Altunyan said.



"Thus, it will be necessary to improve the quality security services to investigate falsified insurance deals and contracts," he added.