OREANDA-NEWS On 24 February was announced, that ROSNO’s Reinsurance Department has renewed the obligatory reinsurance coverage under the animal insurance contracts for 12 months. As compared to the year 2008, the obligatory reinsurance capacity has grown several times, and now equals 216,000,000 roubles (vs. 37,500,000 roubles in 2008).

These limits apply both to the direct insurance risks and to the risks assumed by ROSNO via the incoming reinsurance channels.

The reinsurance coverage applies to the following categories of animals owned by private individuals and legal entities.

cattle

small cattle

pigs

poultry (including eggs)

horses

deer

fish

Under the renewed contracts, insurance protection is provided against the following risks: disease, loss, accident, fire, natural disaster, unlawful third-party actions, breakdown, animal escape, etc.

The obligatory insurance coverage applies to the Russian Federation. The risks incurred in other CIS countries can be included in the obligatory coverage in case of receipt of special acceptance from the reinsurer.

Under the contract, the reinsurer is the company Swiss Re (Zurich, Switzerland), with the reinsurer’s financial stability rating AA- from S&P.