Insurance ‘Heaven’ or ‘Hell’ for Motorists?: Car insurance may become compulsory in Armenia effective 2011
The government plans a new measure that it says will help drivers save money on emergency costs and stimulate growth in the banking sphere. Under the bill on compulsory car insurance, which is on the agenda of the National Assembly’s spring session, starting next year the owners of 400,000 or so vehicles in Armenia will be required to get insurance on their transport. But many car owners, especially private taxi drivers, appear unimpressed by the planned legislation as they expect it to create an additional financial burden for them.
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