Discussion on Expanding the Institute of Notary Liability Risk Insurance

The Ministry of Justice continues its efforts towards fulfilling the goals set forth in the 2022-2026 Strategy for Judicial and Legal Reforms. This was announced on the Facebook page of the Ministry of Justice of the Republic of Armenia.

To this end, a meeting-discussion was held with the participation of representatives from the Notary Chamber, the Ministry of Justice, and several insurance companies, led by the Secretary General of the Ministry of Justice. During the meeting, several issues concerning the reform of the notary liability risk insurance institute were discussed.

The parties reaffirmed that the regulations established in 2016 need to be revised and reformed. An agreement was reached to continue discussions and to consider the expansion of liability risk insurance based on international best practices and the proposals from insurance companies, as well as the possibility of revising the rates for notary services.