OREANDA-NEWS On 18 February 2009 was announced, that Ingosstrkah paid over RUR18.9 mln. to Primorsky, CJSC, located in the Nukutsk Region of the Irkutsk Oblast.

Insurance covered the future crops of spring wheat of 'selenga', ‘Buryat awned, ‘Lutescens-937’ grades, barley of ‘acha’, ‘signal’ and ‘bagan’ grades, as well as ‘rovesnik’ grade oats totaling 12.7 thousand ha in area, insured in June 2008 by the additional office of the Irkutsk branch of Ingosstrakh, IJSC, opened in the settlement of Ust-Ordynsky. The insurance contract was concluded with the maximum possible coverage including risks of whether and industry-induced phenomena hazardous for agricultural activities. The insurance amount totaled over RUR135.6 mln.

The loss was caused by the soil drought experienced in summer 2008 in the territory of the region and resulting in the partial harvest failure. The extent of the damage was determined based on two expert assessments:  the first one was performed directly after the application on the accident with loss-signs was submitted, with the second performed prior to the harvesting aimed at identifying the growing crop yield.  The expert assessments deemed the incident a loss event, and in January 2009 Ingosstrakh paid compensation to the company.

Ingosstrakh, IJSC, has been cooperating with Primorsky, CJSC, since 2006. Throughout this period the company insured its agricultural machinery fleet and future crops (wheat, barley and oats).