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Central Bank: By 1 April 2016 overdue loans in Armenian banks grew by 22.5% over year

Vladimir Yevseyev: Updated Madrid Principles will not be implemented until the armed conflict is frozen

Mass Media: Bodyguards of Transport Minister detained under case over beating of businessman's son Sergey Abovyan

Stepanakert: The territories the Armenian side lost in April were mostly part of the buffer zone around Nagorno Karabakh

Federica Mogherini says next annual Eastern Partnership Foreign Ministers' meeting will be held in spring of 2017

Seyran Ohanyan has not met with Samvel Babayan

PACE Co-rapporteurs: Those responsible for atrocities in Karabakh conflict zone should be held fully accountable

Expenses of Armenian President's Administration up 10% in 2015

Prime minister: Supply of Russian weaponry to Armenia launched

Serzh Sargsyan and Seyran Ohanyan to discuss Karabakh problem in presidential residence tonight

Two-fold growth of loan restructuring applications registered in VTB Bank (Armenia)

Head of Armament Unit of Armenia's Armed Forces dismissed

Sharmazanov: Genocide of Christians in Ottoman Turkey, IS actions and Azerbaijani aggression have same handwriting

Ex-president of Armenia included in list of candidates for election to the new Board of Directors of JSFC Sistema

Mammadyarov: Status quo in Karabakh conflict may lead to severe military clashes

Trial over case of the cardboard tank that "crashed" into NSS building is still going on

Tatoul Manaseryan: Top power branches have a great number of caterpillars

Штормовой ветер срывал крыши домов и не на шутку напугал жителей Еревана

Armenian President attends ceremony of unveiling of Memorial to Marshal Hamazasp Babajanian

Bostanjyan calls for reducing all expenses having no crucial significance to state

OSCE PA Special Representative for South Caucasus arrives in Armenia

Seyran Ohanyan: Territories lost during April war were part of Artsakh

Armenian Defense Ministry responds to media reports about dismissal of commander of Mataghis regiment

Greek Defense Minister: Nagorno Karabakh conflict should be settled exclusively through peaceful means

Armenia and China discuss issue to boost cooperation

Baku trying to shift responsibility for April flare up in Karabakh onto Armenian side

Azerbaijani armed forces fire at Azerbaijani-Armenian border

Vice Speaker of Armenian Parliament: Due to parity in international statements on Karabakh problem, the peace process has been going round in a circle for nearly 20 years

Criminal case over embezzlement at ENA CJSC sent to court with a crime sheet

On May 21 as many as 112 museums of Armenia to open their doors to visitors from 6 pm till midnight

Average life expectancy for Armenia is 74.8 years, according to World Health Statistics: Monitoring Health for the SDGs

Samvel Farmanyan: Agramunt is not the politician to have any influence on Karabakh conflict settlement

Lydian International: financing package of Amulsar program is approved. Construction will launch in upcoming months

Serzh Sargsyan: April war has once again proved unity of our nation in its pursuit of liberty and protection of independence

Azerbaijan breached ceasefire agreement using various small arms

ACBA Leasing participates in "Week of Economic Capacities" as financial partner

Bako Sahakyan addressed to participants of 2nd forum of Armenian Political Parties launched in Stepanakert

Stepanakert rejects Baku's accusations of alleged use of prohibited shells with white phosphorus

EEU Prime Ministers agreed on establishing common market of petroleum and petroleum products and terms of adopting new common customs code

Armenian president presented to EEU prime ministers latest developments around Nagorno-Karabakh problem

Parliamentary opposition is skeptical about Armenian Prime Minister's intention to fight corruption

Loss of 800 hectares by Armenian side causes stormy debates at Armenian Parliament

Zhirayr Sefilyan says he is ready to assume authority for restoring Karabakh's territorial integrity by force

Dmitry Medvedev: My second visit to Armenia within a month speaks of the high level of the allied relations of Yerevan and Moscow

Beeline Communication Museum to join Museum Night event

Russian foreign ministry: Sargsyan and Putin will probably meet in Astana on May 31

Inhabitants of Garni and Goght demand from Hovik Abrahamyan and Ishkhan Zakaryan to cancel construction of irrigation systems designed for their own needs

PACE Chair: "All conflicts must be solved within the territorial integrity of the countries"

EEU Summit of Prime Ministers due to commence in Yerevan

Nagorno Karabakh disclaims Azerbaijan's allegations

Regional

Over first months of 2014 Rosgosstrakh Armenia prevented over 30 attempts of fraud worth about 19 mln AMD

  • by Erik Abrahamyan

  • Friday, July 4, 01:59

Over the first months of 2014, the security service of Rosgosstrakh Armenia prevented over 30 attempts of fraud worth about 19 mln AMD. The press service of the insurance company has told ArmInfo that on the basis of Rosgosstrakh Armenia's statement, the law enforcement agencies have instituted criminal proceedings over three cases of fraud disclosed by the security service. Investigation is underway. The first instance courts have already criminated two more cases. 

The source says that in the first case three citizens of Armenia have been found guilty of large-scale fraud.  In the course of investigation of the road accident, the company's security employees found out that the driver, who committed the road accident, was replaced. As a result, the criminals were going to receive a 592 thsd AMD compensation from the company. According to the judgment, each of them, shall pay fines, which are 600-700 times as much as the minimum wages. 

In the second case, two residents of Noyemberyan were charged with attempted large-scale fraud in collusion. It has been found out that Mkhitar G. and Armen G. staged a road accident to receive 990 thsd AMD from Rosgosstrakh Armenia as compensation for the damage caused earlier. According to the court's verdict, each of them shall pay a fine, which is 500 times as much as the minimum wages. 

The company says that motor insurance fraud cases are the most frequent. In addition to replacement of the driver and staging of the accident, there has also been a case when the driver was brought to criminal responsibility for acquisition of the insurance policy after committing the accident. 
The security service of Rosgosstrakh Armenia reports that the cases of replacement of the guilty party has considerably declined in 2014. The matter concerns the cases when the owner of the car that suffered most introduces himself/herself as the aggrieved party to receive bigger compensation from the insurance company. Within the frames of the Bonus-Malus system, in 2014 the faultless drivers refuse to bear the others' blame, because it affects their insurance histories and raises the price of the motor third party liability insurance policy. 

According to the Ranking of Insurance Companies of Armenia prepared by the Agency of Rating Marketing Information, in Q1 2014 Rosgosstrakh Armenia was in the lead in the premiums collected over that period (3.4 bln AMD, up 2.5% versus Q1 2013). The company was also in the lead in the insurance payouts (2.1 bln AMD, up 24.5% versus Q1 2013). This amount was paid out for 11,750 insurable events.  For the moment, Rosgosstrakh Armenia provides 15 insurance classes. Moreover, it is the only insurance company that insures credit risks.  To note, Rosgosstrakh Armenia was founded in May 2008 and is licensed by the Central Bank of Armenia to provide non-life insurance. The company is a member of Rosgosstrakh Group (Russia). The authorized capital of the company is 3.44 bln AMD ($8.3 mln). The company has 46 offices throughout Armenia, including 18 branches, 13 sales offices in Yerevan and 33 offices in large cities of Armenia. In December 2011 Rosgosstrakh Armenia was the first in the insurance market of Armenia to be awarded with ISO 9001:2008 by Moody International. 

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