The pace of compulsory vehicle insurance policy sales have considerably increased in the beginning of December.

14% of vehicle owners in Armenia purchased policies of compulsory vehicle insurance as of the end of November 2010, the press service of the Central Bank of Armenia told a PanARMENIAN.Net reporter.

“The results of policy sales over the past week have not been summarized yet. However, a considerable growth was recorded,” the source said.

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