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More than 20 years "Prime" expands and improves the range of its services for the Insureds ’ risk management, as the provider of insurance brokerage services in the insurance market of Armenia.

Our mission


to provide:
  • Professionalism in the process of assessment and reliable placement of risks,
  • Flexibility in receiving the most favorable conditions for an insurance coverage,
  • Promptness in the arrangement process of insurance issues,
  • Clients’ information confidentiality,
  • Providing Insureds’ interests protection by assistance in the pre-contractual processes and support of ongoing insurance policies,
  • Organization of effective cooperation among insurance participants,
  • Insurance claims settlement and compensation process.
Updated at 27.12.2016
About Us

The company was established by two individuals and after obtaining the "Insurance intermediary (brokerage) activities" license ԱՄԳ N 0001 of the Ministry of Finance of RA on February 10, 1997, was relicensed as an independent legal entity providing insurance brokerage services.

Activities of the company are licensed:

4, February, 2000 - Ministry of Finance of RA

18, March, 2003 - Ministry of Finance and Economy of RA

29, January, 2008 - Central bank of RA

09, September, 2014 - Central bank of RA

The company is registered in the State register of the entities of RA with the number 273 11001758, registration certificate 01 Ա N 032261.

Updated at 01.06.2017
Services
  • Insurance risks assessment and consulting services,
  • Making proposals for insurance risks placement and choosing an insurance company,
  • Provide insurance policies support within the scope of authorities given by Insureds,
  • Management of insurance claims and loss adjustment processes,
  • Insurance claims settlement.

  • Reinsurance risks placement in the internationally recognized companies,
  • Coordination of collaboration between insurance and reinsurance companies.


Cooperation with "Prime" will provide you with:

  • An opportunity to receive managed professional insurance services,
  • Development and implementation of comprehensive insurance programs with participation of reliable insurers and reinsurers,
  • The range of support, starting from risk assessment and up to claims settlement.
Updated at 27.12.2016
Contacts

Address: 2/1 Proshyan Street, area 19, 0019, Yerevan, RA
Postal address: 0009, mail box N 1, Yerevan, RA
Tel.: + 374 10 52 64 18 - 16
Fax: + 374 10 52 64 41 - 18
Email: prime@prime-insurance.com
Working hours: 9:30 - 18:30, Monday – Friday



For insurance brokerage service + 374 10 52 64 31 - 11
Personal insurance + 374 10 52 64 18 - 14
Property insurance + 374 10 52 64 18 - 13
Liability insurance + 374 10 52 64 18 - 16
Cargo insurance + 374 10 52 64 18 - 15
Motor insurance + 374 10 52 64 18 - 14 / 13
Payments and mutual settlements + 374 10 52 64 18 - 12
Updated at 28.12.2016
F.A.Q.
1. Who can participate in an insurance process?

  • Insured, an insurance agreement party, who receives insurance indemnity in case a contractual event occurs (insurance case), and also indicates the person (beneficiary) to whom the insurance indemnity is to be provided.
  • Insurer, commercial organization engaged in insurance activity licensed in accordance with the legislation of the Republic of Armenia.
  • Insurance agent, implements insurance intermediary activities on behalf of RA insurers and under their authority.
  • Insurance broker, commercial organization licensed for insurance brokerage activities in RA, implementing insurance intermediary activities on behalf of insureds, and in case of reinsurance on behalf of insurance companies.


2. How is the insurance process implemented?

  • It is necessary to choose an insurer and provide as much complete information about the insurance object as possible,
  • Get acquainted with proposed insurance conditions, paying special attention to the exceptions and reimbursement conditions,
  • Receive insights and clarifications from insurer on the procedures and their supervision provided by the contract,
  • Sign the insurance contract and strictly comply with the requirements of the insurer during its operation.

You can use insurance broker's services to select insurance company and insurance conditions.


3. How is the insurance premium determined?

Insurance premium can be determined by the following formula after an insurer has agreed upon the sum insured and stated the applicable rate.


Insurance premium = sum insured x rate


4. In what cases insurance indemnity is provided?

Insurance indemnity is provided when an accident has a random character and the insured could not prevent it, and if the very accident is not included it the exclusion list of the contract.



5. What does "all risks" insurance mean?

"All risks" insurance implies insurance coverage for a relatively broad range of risks, still it does not mean that all possible accidents are indemnified, as "all risks" insurance also has a list of exceptions.




Updated at 03.10.2017
News

"Prime" has organized an exhibition of children's drawings titled "Insurance through our eyes" jointly with the Artists' union of Armenia and National center of Aesthetics named after Henrik Igityan devoted to the International Children's Day. The exhibition was held in the Museum of children's creativity. The opening ceremony of the exhibition took place on June 3, 2017. Famous artists, teachers of the museum, the staff of insurance and brokerage companies with their families were the guests of an occasion. The artworks of children were presented in the exhibition whose parents work in the insurance sphere.

“Swiss Re”, one of the leaders of global reinsurance market, confirmed its agreement to sign the general property risks reinsurance Treaty with five Armenian insurance companies, with the participation of “Prime”.
According to the Treaty, “Prime” acts as a reinsurance broker with complete powers of agreement assistance.

On 22-23 November, 2016 15th November Business Meetings of reinsurers took place in Moscow, with participation of 99 companies from 21 countries.
Regular participation of “Prime” at business meetings gave an opportunity to discuss tendencies of reinsurance market development and coordinate the organization of reinsurance issues in 2017.

Updated at 05.06.2017
Shareholders and Investors

“Prime Insurance Brokers” is a limited liability company which doesn’t perform public distribution of securities. The company has two considerable participants who have the right to obtain any information on financial and economic activities of the company without restrictions.

The company considers inexpedient the publication of data on the website according to the provision N 8/03, 4th chapter, point 25, subparagraph 4 approved by the Central Bank of RA Board’s decision “About the data publication of banks, credit institutions, insurance companies, insurance brokers, investment companies, the central depositary and settlement organizations implementing remittances”.

Updated at 27.12.2016
Reports
Current Year: 2017

Updated at 23.10.2017
Regulation

The activities of "Prime Insurance Brokers" LLC are governed by the following laws and regulations:

Updated at 03.10.2017
Customer’s Rights

Complains or claims on the actions of "Prime" are processed in accordance with the "Clients' complaints or claims treatment procedure" set out in Chapter 8 of "The order of work management of executive body of "Prime Insurance Brokers" LLC".

For contacting us, please visit the section Contacts.

An insured or a person who has received insurance services as a physical person, has an opportunity to resolve disputes and protect his/her rights and interests by applying to the Financial System Mediator.

Updated at 22.06.2017
Financial System Mediator

The client who acts as an individual has an opportunity to address the Financial system mediator and protest the actions of “Prime Insurance Brokers” or individuals performing activities on behalf of the company, if:

  • The company doesn’t fulfill or fulfills not completely the liabilities provided by the signed contract, agreement or agreement established otherwise,
  • The company refuses the provision of services or prevents agreement establishment.


Office of Financial system mediator:

Address: Street Khorenatsi 15, Yerevan, 0010, RA.
"Elite Plaza" Business center, 7th floor.
Tel.: +374 60 70-11-11
Fax: +374 10 58-24-21
Email:info@fsm.am

Working hours of the office: 09:00 - 18:00, except weekends and holidays, break: 13:00 - 14:00. Updated at 27.12.2016
Armenian National composer and pianist of the USSR Arno Babajanyan's fantasy on "Call me" sounds on the website.

In case of disparity among texts in Armenian, Russian and English languages, the Armenian variant is preferable.
"Prime Insurance Brokers" LLC doesn't bear responsibility for the accuracy and reliability of the content of other websites placed in its own website.