People start to trust Mediator office. Piruz Sargsyan

YEREVAN, 18 MAY, ARMENPRESS. Among CIS countries, Armenia is one the first countries, which implemented the institute of the Financial System Mediator. In the 6th year, the Office already receives thousands of applications, which, according to the Financial System Mediator Piruz Sargsyan, is the evidence of confidence towards the office. Despite that, Piruz Sargsyan states that the public has low level financial education and the activities continue in this direction. The Financial System Mediator Piruz Sargsyan gave an interview to “Armenpress” and answered to these and other questions:

- This year, as in previous years, a growth of the complaints was recorded against all the financial institutions, especially insurance companies and banks. What does this tendency tell about?

- We recorded an increase of complaints over the previous year, which is very satisfying, because it points to the fact that the people are starting to trust the Mediator office. This year, the most complaints are against the insurance companies, but it should be noted, that unlike the last year, we had an increase of the complaints against the banks.

- What is it conditioned with? Just by their activity level, or by the fact that the people are more in touch with the insurers?

- The number of complaints is increasing in the Mediator office; it is not conditioned by the level of financial structures’ activity. Usually people find that it is conditioned by the increase of the mediation. For example, if we analyze the complaints against the insurance companies, the major part of the complaints is against the CMTPL (compulsory motor third-party liability insurance) system. In other words, this financial product is more popular and therefore the complaints are more. The complaints database, which was sent to us, is flexible, and we, one by one, see the people, who turn to us. We also have so-called "fans", who can bring to us several complaints relating to the different sectors. (THE FULL VERSION OF INTERVIEW IS AVAILABLE IN ARMENIAN).

Interview by Gohar Avetisyan