Today, February 12 RA <b>National Assembly</b> hears drafts law on Compulsory Auto Liability Insurance, centering around social aspects of the bill discussed.

According to the chairman of the NA Standing Committee on Financial-Credit, Budgetary and Economic Affairs <b>Gagik Minasyan</b>, the bill will allow for road accidents’ prevention and defence of injured party’s interests. “The new insurance system is another step forward in civilized society building,” he stated.

CBA Vice President <b> Vache Gabrielyan </b>, in turn, noted that the law on Compulsory Auto Liability Insurance will boost development of insurance market in Armenia, raise competitiveness level and lay foundation for insurance culture in the country.

The draft law on Compulsory Auto Liability Insurance will become effective from the year 2011, PanARMENIAN.Net correspondent reported from RA NA.