The Committee of Urban Development recently held a meeting on urban planning, with representatives from the Central Bank and insurance companies in attendance. The focus of the discussion was on insurance coverage for urban development support services provided by the Central Bank. David Grigoryan, the President of the Committee, informed NEWS.am that the meeting addressed the implementation of measures to certify organizations and experts in the field of urban development, which will come into effect on December 17 of this year. Special attention was given to the ongoing work on drafting legal acts that consider not only insurance programs, but also the mechanisms for their implementation in the urban development field. According to Grigoryan, insurance should ensure the quality of urban development without hindering organizations and new entrants to the field, as they have encountered challenges in the past with program implementation.

During the meeting, representatives from insurance companies discussed different insurance options, particularly those that are already in operation, which primarily cover professional activities in urban development. Additionally, experts responsible for providing insurance services presented examples of insurance coverage for construction works in other countries. The meeting also tackled the possibility of conducting a more comprehensive study on the state of urban development in Armenia and compiling statistical data, with the participation of representatives from the Central Bank and urban development experts in the Committee.