OREANDA-NEWS. January 12, 2011. As a compensation for the harvest failure, Ingosstrakh OJSIC paid 1.2 million rubles to an agricultural enterprise located in Arkadaksky district of the Saratov region.

According to the contract, the winter wheat harvest was insured in the amount of 6.26 million rubles.

The insured event was the unprecedented drought in summer 2010. The heightened temperature and wind conditions in the Saratov region contributed to a dangerous agrometeorological phenomena such as soil and atmospheric drought and dry wind, and as a result, damage and partial loss of winter wheat crop. The event was deemed insured, and the agricultural enterprise received a full compensation from Ingosstrakh OJSIC.

The insured crop is the subject of pledge in Saratov regional branch of Russian Agricultural Bank in accordance with a loan agreement.