OREANDA-NEWS. February 10, 2010. Ingosstrakh paid some 2.7 mln rubles to the Closed Joint-Stock Company Agrosoyuz-S for the damage to the cereal crops (wheat strains "Yermak", "Stanichnaya" and "Zernogradka" on the total area of 2,505 ha and triticale on the total area of 595 ha) located in the fields of Sarpinsky District, the Republic of Kalmykia.

The future crop was insured by the branch office of Ingosstrakh OJSIC in Elista. The total insured amount exceeded 29.4 mln rubles. The insurance contract was entered into with governmental financial support. The insured property was pledged by the Kalmykian regional branch of Rosselkhozbank OJSC to secure a loan.

The insured event was represented by a drought in the summer of 2009, which led to partial damage to the crops of wheat and triticale in the whole area. Determining the scope of damage required an expert examination, which recognized this occurrence as an insured event, whereupon Ingosstrakh paid the insurance indemnity to the farm.

Agrosoyuz-S CJSC was established in 2007 and specializes in the production of oilseeds and cereals. Ingosstrakh insures crops and trade stocks of grain in storage and agricultural equipment.