OREANDA-NEWS. December 25, 2009. Ingosstrakh paid out to Progress LLC located in Bezenchuksky district of the Samara Region an insurance indemnity of 5.3 million rubles. Further harvest, i.e. spring barley, spring oats, and sunflower in the total area of 2.350 ha was insured in spring 2009 by the branch of Ingosstrakh OJSIC in Samara. The total insured amount was more than 16.1 million rubles.

A drought, which is an insured event, occurred in summer 2009 in the territory of the district and resulted in partial damage of sunflower and oat droppings. An expert appraisal determined the extent of damages, and, in December 2009, after all necessary documents hade been received, Ingosstrakh paid the indemnity to the farm unit.

The insured property under the loan obtained constituted a collateral of the Samara Regional branch of Russian Agricultural Bank (OJSC). According to Tatiana Rassabina, Director of Supplementary Office in Bezenchuck settlement of the Samara region, the timely insurance indemnity will enable the farm unit to fulfil its obligations with the bank, assuming that no more than 15% of agricultural producers of the region have been insured this year.

Progress LLC was founded in 2006. It is engaged in farming of sunflower, wheat, barley and oats. The total territory of the farm unit is 4.7 thousand ha.