OREANDA-NEWS.  On 24 July 2008 was announced, that the branch of OJSC Ingosstrakh in Tomsk has entered a property insurance contact with OJSC KDV covering a number of factories incorporated in the holding company. The insurance coverage amounts to RUR 941 mln.

The contract covers equipment, commodity stock and manufacturing areas, warehouses and other facilities. The contract extends insurance against the so-called ‘fire risks’, including fire, thunderbolt, explosion of natural gas; natural calamities, damage by water and/or explosion; theft, robbery and ill-intended actions of third parties.

‘We have cooperated with Ingosstrakh since 2005, - says Sergey Batushev, CFO of KDV Group. – Our cooperation is measured by 22 property insurance contracts. Since we invest into upgrade and modernization of our production facilities, insurance as a risk management tool is a must have.’