Insurance Companies should Meet no Artificial Barriers to Join Insurance Association, says Ardi Group Head

Armaz Tavadze, cofounder of Ardi Group insurance company, says recently founded insurance companies should have an easy access to the insurance association membership.

No artificial barriers should be practiced for the association membership, he added.

“The faster new companies join the association and take the market tendencies, the better for the industry development, even more so the ground for refusing membership applications of new companies is nuclear”, Tavadze said.

Under the current statute of the insurance association, insurance companies, which have less than one-year work experience cannot become the association members. As reported, Alpha was refused to become the association member under the same pretext. In May 2010 Ardi group also submitted a membership application to the association.

In the near future, the insurance association board plans to discuss the issue of granting an associated member status to new insurance companies.

At this stage, ten insurance companies are registered in the insurance association of total of 16 companies. It is worth noting Tao and Cartu insurance companies have refused to become the association members themselves.