Cancel Increases in Mandatory Insurance: Protests Continue

A group of drivers continues their protest outside the Armenian Insurance Bureau, demanding the cancellation of increases in mandatory insurance (AIAA) rates and the resignation of the bureau's head, Vahagn Yeghiazaryan.

The drivers have affixed signs to their vehicles stating, "AIAA will not increase." They have blocked a section of Republic Avenue with their cars; however, the gathering has been coordinated with the police.

“We did not receive satisfactory answers last time; that is why we have gathered again. The protests will continue. We are united here as drivers to ensure that AIAA does not increase in our country. I consider the decision absurd. Why should an owner of a vehicle with a 1-10 horsepower rating pay 3,000 drams more if they have received nothing from AIAA for years?" said the leader of the Nissan Teana Club Armenia group.

His vehicle also falls into the 10-14 horsepower category, meaning his AIAA will increase by 6,000-9,000 drams.

If their demands are not met, the drivers plan to continue their protests with car convoys and spontaneous gatherings, although they emphasize that these actions will be peaceful.

Driver Narine Muradyan pointed out that while everyone talks about a 3,000 dram increase, different drivers face different hikes, which can reach 15,000 drams or more. “My car’s AIAA has increased by 140%. My vehicle is in the 16 horsepower class, and I will pay 17,000 drams more. The insurance bureau claims that there is a financial gap they must address. Has anyone asked me if I have a financial gap or not?” Narine added that they will continue their fight until their voices are heard.

It is worth noting that on January 31, as well as on February 3 and 7, drivers held car convoys. They expressed their grievances at Republic Square and near the Central Bank.

The insurance bureau has decided to revise the rates of mandatory insurance, which will lead to an increase in base tariffs and changes in the calculation system for insurance costs. According to the bureau's statement, actuarial calculations indicate that to ensure the system's stability, the basic insurance fee must increase by at least 3,000 drams annually (thus reaching 21,700 drams), risk factors need adjustment, and bonuses and maluses must be balanced.