YEREVAN. - Armenia needs professional and business liability insurance, RESO Garantiya Russian Insurance Company President Sergey Sarkisov told journalists on Wednesday, Armenian News-NEWS.am reports. Sarkisov visits Yerevan to participate at the opening of Armenia-RESO affiliate headquarters.

“Armenian market is small and [one] should not expect any miracles here. We hope that the state will gradually pay more attention to the insurance, and people will realize that they need it. We hope that services like mandatory professional liability insurance will increase,” he added.

In addition to the licenses, the companies and individuals, involved in different activities, will purchase liability insurances to cover the cost of possible risks of their activities.

“Armenian market has a great potential, compared to its current state. For example, the United States have more than four thousand types of mandatory insurances”, added Sarkisov.