Mandatory bank account:
- We inform you that starting from April 1, due to ensuring the introduction of technical capabilities, the changes approved by the Council of the "Armenian Motor Insurers' Bureau'' No. 14-L of April 25, 2023 decision and the changes made in the rules "General Terms and Conditions of the Insurance Company" RL 1-001 registered by the Central Bank of the Republic of Armenia on June 27, 2023 (hereinafter referred to as the Rules) will come into force.
-With the changes made in the rules, the "Account number" field of the CMTPL certificate for concluding the CMTPL contract has been defined as mandatory, and the possibility of specifying the "bank card number" has been removed from the rules, which was not technically introduced until now due to security reasons. Accordingly, starting from April 1 of this year, to conclude the CMTPL contract, in the "Account number" field of the CMTPL certificate, it will be necessary to fill in the bank account number belonging to the policyholder and opened in a bank operating in the Republic of Armenia. Moreover, in case the CMTPL contract is concluded at the head office or branch of the insurance company and a notarized power of attorney containing the powers to receive the amounts payable to the policyholder within the scope of the insurance policy contract is submitted, the bank account number of the person authorized by the policyholder may be filled in the contract instead of the policyholder.
- Considering the above, we urge all car owners, if they do not have a bank account, to open a bank account in any bank operating in the Republic of Armenia before signing the CMTPL contract.
- We also inform you that after the relevant amendments to the Rules enter into force, the incorporated version will be posted in the "Rules of the Bureau" sub-section of the "Legal Acts" section of the Bureau's website.
Armenian Motor Insurers' Bureau