Regulation

Laws

Law of the Republic of Armenia on Insurance and insurance activities

Law on Bankruptcy of banks, credit organizations, investment companies, investment fund managers und insurance companies

Regulations

• Regulation 3/01 on "Licensing of Insurance Activities and Insurance Intermediary Activities; Obtaining the Preliminary Consent to Qualifying Holding in Statutory Capital of Insurance Company; Insurance Company's Business Plan Submission, Procedure and Date; Testing of Qualification of Candidates for Officials and Responsible Persons of Insurance Company and Insurance Intermediary; Themes of Qualification Test for Officials of  Insurance Company and Responsible Persons of Insurance Intermediary"

• Regulation 3/02 on "Limits of Main Prudential Standards of Insurance Activity, Procedure of Formation and Calculation, Criteria for Qualifying Reinsurers as not Prohibited"

• Regulation 3/03 on "Types of Technical Reserves and the Rules of Establishment Thereof"

• Regulation 3/04 on "The order and timing of the reporting forms of insurance companies and the information contained therein"

• Regulation 3/05 on "Criteria for Considering Reinsurance Companies Authorized and Reliable"

• Regulation 3/07 on "Functions Subject to Delegation by the Contract of Delegating Insurance Functions, Documents and Information Presented to the Republic of Armenia Central bank for Receiving Preliminary Permission for Delegating Insurance Functions, Their Contents, Order and Form of Presentation and the Order and Conditions of Receiving Preliminary Permission"

• Regulation 3/08 on "Methodology for Computing the Composite Ratings of Activity Indicators (CARAMELS) of Insurance Companies Operating Within the Territory of The Republic of Armenia"

• Regulation 3/09 on "Order of Classification of Assets of Insurance Companies and Formation and Use of Reserves of Possible Losses"

• Regulation 3/10 on "Minimum Requirements Presented to Internal Audit Activities, Internal Control System of Insurance Companies"

• Regulation 3/11 on "Criteria Presented to the Person Conducting Audit of Financial-Economic Activities of Insurance Companies"

• Regulation 3/13 on "Documents and Information Required for Granting Prior Consent of Self-Liquidation of Insurance Company, for Permission for Self-Liquidation, Liquidation Commission (Liquidator) Report Forms, Procedure, Frequency and Terms for Submission, List of Information Published by the Liquidation Commission (Liquidator), Procedure and Form of Publishing"

• Regulation 8/03 on Information Publication by Banks, Credit Organizations, Insurance Companies, Insurance Brokers, Investment Companies, Central Depository and Payment and Settlement Organizations Implementing Money Remittances 

• Regulation 8/04 on Minimum Conditions and Principles for Internal Rules, Regulating the Procedure of Examination of Complaints/Claims of Customers 

• Resolution 125-N on "Approving the Directive on Completing Reference Forms of Financial Statements Reported by Insurance Companies"

• Resolution 162-N on "Mandatory Requirements and Conditions for Notices and Marks Provided by Insurance Companies to Policy Holders"

• Resolution 197-N On "Approval of the Reporting Forms of Insurance Brokers, Content of Reports, Terms and Conditions of Submission"

• Resolution 199-N on "Approval of Procedure for Issuing Prior Consent for Transfer of Insurance Portfolio"

These laws and regulations can be found at the following sites: www.cba.am and www.arlis.am