Inecobank to start providing services of insurance broker for OSAGO in two weeks

PanARMENIAN.Net - Head of the Development Department of Inecobank CJSC Alla Pavlova said that the bank will start providing services of an insurance broker for mandatory auto insurance (OSAGO) in two weeks.

“Currently, the bank is in а preparation process, depending not only on it but also on its contractors,” Pavlova told a PanARMENIAN.Net reporter.

The Central Bank of Armenia has issued a relevant license to Inecobank CJSC. The bank will cooperate with leading insurance companies of Armenia, providing its clients with a range of insurance services immediately in the bank. “We have already signed agreements with Rosgosstrakh-Armenia and Ingo Armenia companies. Besides, we will sign an agreement with Nairi Insurance and Cascade Insurance by the end of this week,” said Pavlova.

On May 18, 2010 Armenian National Assembly approved the law on compulsory insurance of motor vehicles, which envisages payment of decent compensation to people who suffered in car accidents. The law will come into force from January 1, 2011.

The insurance policy cost will be determined with consideration of vehicle type, production date, driver’s experience, engine capacity, purposes of vehicle exploitation and the number of drivers, who are eligible to drive it.