OREANDA-NEWS. On 16 July 2009 was announced, that Ingosstrakh IJSC is the leader in liability insurance in Russia. From the 1st of July 2009 it resumed the contract of outward reinsurance of risks of third-party and professional liability.

 Today, Ingosstrakh offers to its clients diverse and flexible insurance products for all types of liability, which enabled the company to win about 30% of the market in this segment. The main clients of the company are trade and business centers, hotels, restaurants, banks, professional participants of the securities market, auditors and many others.

From the 1st of July 2009, Ingosstrakh resumed  an obligatory contract of excess of loss  with the limit of USD 20 000 000 for third-party liability risks, and USD 15 000 000  for professional liability risks. It must be mentioned that from the 1st of June 2009, the coverage provided by the obligatory reinsurance contract includes a new type of  insurance – third-party liability of  operating entities and owners of hydrotechnical facilities for damage to life, health and property of other parties. Its automatic capacity is up to USD 20 000 000 with the possibility to extend the limit to USD 30 000.

The limits set in this contract are rather high not only by Russian, but also by international standards. Net retention of Ingosstrakh IJSC is USD 1 000 000.

Main types of liability insurance that are contained in the coverage provided by the reinsurance contract are as follows:

General third-party liability

Third-party liability of manufacturer

Third-party liability of employer

Third-party liability of event planners

Different types of professional liability

Third-party liability of operating entities and owners of hydrotechnical facilities for damage to life, health and property of other parties.

The leader of the contract is reinsurance company Partner Re, other participants are famous companies that have high international reliability ratings.