OREANDA-NEWS. February 02, 2010. Ingosstrakh has paid over 7.2 million rubles to the Luch Agricultural Production Co-operative Farm in Kliavlinsky District of Samara Region for the damage of the future grain- crop yield.

The future yield of the spring and winter wheat and buckwheat, which occupied the total area of 1 888 ha, was insured by the branch of Ingosstrakh OJSIC in Samara. The overall insured amount exceeded 16.3 million rubles.  The insured property was a pledge item of the Samara regional branch of Rosselkhozbank OJSC as part of the granted credit.

The drought early in 2009, which resulted in the damage of the crops throughout the area, became an insured event.  To establish the amount of the damage, it was required to carry out an examination, and according to its results, the damage was acknowledged as insured event.  The insurer paid a full compensation to the farm after the receipt of all necessary documents.

Ingosstrakh OJSIC has been cooperating with the Luch Farm since 2008. The stored reserves of the agricultural products and cultivated plants have been accepted for the insurance over this period.  According to Leonid Pakshaev, chairman of the farm, the choice of Ingosstrakh as the insurer was determined by the promptness and professionalism of the Samara branch employees, and also by the good standing of the company. The farm is planning to keep on cooperating with Ingosstrakh and to insure yields of the spring and winter cultivated plants in future, especially, in 2010.