OREANDA-NEWS. May 25, 2010. Ingosstrakh and Baltika Breweries OJSC entered into a contract for property insurance and business interruption insurance. Insurance coverage is provided also against terrorism, and breakdown of the insured’s machinery and equipment. Subject to this contract,  Breweries and other property of Baltika located in the Russian Federation were insured against losses.

“For brewers, the consequences of the crisis worsened because of a threefold increase of the excise duty; 2010 will not be easy either: some restricting regulations in the beverages industry are anticipated. Now Baltika is stepping up its efforts in implementation of the integrated risk management system. Our efforts are aimed first of all at diversifying the product portfolio, cost reduction in all segments and the improving efficiency of our business, says Ekaterina Azimina, Vice-President for Finance and Economy of Baltika Breweries OJSC.

The risks will be reinsured under Ingosstrakh's compulsory property contract, as well as voluntarily in the leading Russian and foreign insurance and reinsurance companies. Ingosstrakh OJSIC and Baltika Breweries OJSC have been cooperating successfully for 11 years.