According to the Bureau of Motor Insurers of Armenia, from September 18, the maximum damage threshold for the European Accident Statement will be increased to AMD 400,000 (~EUR 940) from the previous AMD 200,000, ArmInfo writes.

The general MTPL rules, approved by the Council of the Bureau of Motor Insurers of Armenia, have undergone changes due to the fact that the Bureau received a number of requests and complaints about traffic jams as a result of road accidents, and this issue was recently raised by the RA government and repeatedly discussed in the NA (National Assembly) of the RA last year.

It should be noted that in Armenia, the system of registration of insurance events under the European Accident Statement in MTPL was introduced in March 2016, initially with a damage threshold of up to AMD 50,000, subsequently increased to AMD 100,000 in September 2016. Then, from August 2020, there was another increase to AMD 200,000, and now from September 18, 2024, an increase to AMD 400,000 is expected.

According to the Bureau, as of August 1, 2024, there were 668,278 thousand vehicles with MTPL contracts in Armenia (+5.8% y-o-y). Total paid claims, settled based on the European Accident Statement, increased by 28.1% to AMD 1.3 billion (USD 3.5 million), ArmInfo added.