OREANDA-NEWS. March 22, 2010. Ingosstrakh OJSIC published information on insurers to failing to perform their obligations to pay subrogated claims in mass media. Today unjustified reactions of several indebted insurance companies to such manifestations as well as to “allegedly inadequate actions of Ingosstrakh OJSIC” and violations of law while making subrogated claims have become more frequent.

We can bindingly declare that business of Ingosstrakh OJSIC complies with the law provisions and professional activity regulations of the Russian Association of Motor Insurers only.

Ingosstrakh OJSIC as well as any other insurance company with a great number of subrogated claims contemplates to get indemnified through out-of-court resolution. Such approach is used by our company when paying mutual claims with counterparty Insurers. We extensively work with them and have already worked out agreements which facilitate quick settlement of mutual claims and maximum reduction of requested documents ruling mass claims out. Meanwhile most insurers specified in the press releases ignore Ingosstrakh’s proposals to hold negotiations or offer claims settlement procedures which cannot be called correct.

When considering and paying incoming subrogated claimsб few companies think it applicable to use the insurance benefit selection, to demand any documents not required by the Regulations of the Russian Association of Motor Insurers as well as to pay no insurance benefits referring to either failure in documents submission or their loss.

Therefore, such procedures for Ingosstrakh’s claims consideration force us to submit mass claims, inform supervisory authorities of all violations revealed as well as to release information on such cost-cutting of CMTPL insurer to public. We believe that such actions breach Ingosstrakh’s rights to receive its insurance benefit and indicate either financial instability of the insurer or its unwillingness to pay the insurance benefit.