Address: Yerevan 10, Vazgen Sargsyan st. 6
Tel. number: + (37410) 592 697, + (37410) 592 698
FAX: + (37410) 565 496
E-mail: consumerinfo@cba.am
Website: www.abcfinance.am
Attention: The Company is not responsible for the accuracy and reliability of the content of the linked web-sites, the ads, which are featured in the linked web-sites, and the Company is not responsible for the possible consequences of the use of the information contained on those sites.
Mediator: Piruz Sargsyan
Address: RA, 0010, Yerevan, M. Khorenatsi st. 15, «Elite Plaza» business center, 7th floor.
Tel. number: +374 60 70-11-11
Fax: +374 10 58-24-21
E-Mail: info@fsm.am
Web-site: www.fsm.am
Working days: Երկուշաբթի-ուրբաթ
Working hours: 09:00-ից մինչև 18:00,
The goals of the Financial System Mediator are:
- Protection of consumer rights and interests in the financial sector,
- A fast, efficient and free investigation of consumer demands,
- Increasing public confidence in the financial system.
For more detailed information regarding the Financial System Moderator, visit the official web-site:
Attention: The Company is not responsible for the accuracy and reliability of the content of the linked web-sites, the ads, which are featured in the linked web-sites, and the Company is not responsible for the possible consequences of the use of the information contained on those sites.
RA Law on Insurance and Insurance Activities
“Civil Code of the Republic of Armenia”, Chapter 54, Insurance
REGULATION 3/03
Types of technical reserves, process of their formation
REGULATION 3/04
Insurance Company Reporting Forms, Information Included, Procedure and Deadlines
REGULATION 3/10
Minimum requirements for the internal control system of an insurance company
REGULATION 3/12
The procedure of reorganization of an insurance company
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Attention: The Company is not responsible for the accuracy and reliability of the content of the linked web-sites, the ads, which are featured in the linked web-sites, and the Company is not responsible for the possible consequences of the use of the information contained on those sites.
This glossary includes an explanation of the terms most commonly used in insurance contracts and in general in the insurance industry.
Glossary of Insurance Terms
Insurance agent
Person registered in the Central Bank Insurance Agent Register for carrying out activities of insurance agent in the Republic of Armenia.
Policy Holder
The party to the insurance contract to whom or by indicating the insurer the person (beneficiary) is obliged to compensate for the damage caused by the occurrence of an insurance event (insurance accident) or part thereof or to provide a certain amount by the force of the event (insurance event) in accordance with the terms of the insurance contract.
Insured Person
The insured person is the person to whom the occurrence of the insurance accident is the subject of an insurance accident.
Insurance Object
The object of insurance is the property and personal interests to be insured.
Insurance Risk
Insurance risk is the probable magnitude of the damage that may occur as a result of an accident occurring with a certain probability and chance.
Insurance Compensation
Insurance compensation is the sum payable by the insurer to the policyholder or beneficiary on the basis of an insurance contract in monetary or equivalent terms.
Insurance Amount
The insurance amount is the maximum amount of possible insurance compensation payable by the insurer.
Insurance Premium
The insurance premium is the amount to be paid by the policyholder to the insurer for possible insurance compensation.
Insurance Event
An insurance event is an event or event foreseen by an insurance contract, by virtue of which the insurer is obliged to pay the insurance compensation to the policyholder or beneficiary.
Accident
An accident is a sudden short-term external impact that results in the health of the Insured deteriorating or the death of the Insured.
Insurance Broker
Commercial organization licensed to conduct insurance brokerage activities in the Republic of Armenia.
Insurance agent activity
Carrying out insurance intermediary activity on behalf of one or more insurance or reinsurance companies.
Insurer
An insurance company or a branch of a foreign insurance company operating in the territory of Armenia.
Insurance brokerage activity
Activities done by third parties, which result in: establishment of insurance relations between the insurer (re-insurer) and policyholders, motivating, facilitating, supporting organizational, factual and realistic activities, including realization of insurance and reinsurance contract preparation work, including provision of insurance Implementation of Insurers Signing Insurance and Reinsurance Contracts with Specific Insurers Assistance in the execution of insurance and reinsurance contracts, including the collection of insurance premiums and the transfer of benefits, to the extent permitted by the policyholder or the Company.
