OREANDA-NEWS. January 19, 2011. Ingosstrakh OJSIC paid more than 5 million rubles to Krasnoe Seltso LLC, located in Ruzaevsky district of the Republic of Mordovia, as a compensation for the shortfall in production.

The agricultural crop was insured by Krasnoe Seltso LLC under two contracts on agricultural insurance. Zazersky 85 spring barley on the total area of 187 hectares has the insurance coverage amounting to about 2.2 million rubles. The winter wheat which included Moskovskaya 1939, Mironovskaya 808, and Bezenchukskaya, breeds on the total area of 850 hectares was insured against loss or partial loss to the amount of 13.1 million rubles.

The insured event was the unprecedented drought and the reason why the agricultural enterprises suffered huge losses. The extent of damage to Krasnoe Seltso LLC was determined after several examinations. As a result, the event was admitted as the insured, and the agricultural enterprise received a full compensation from Ingosstrakh OJSIC for the shortfall in production.  

The branch of Ingosstrakh OJSIC in Saransk and Krasnoe Seltso LLC has been cooperating since April 2009. During this time the insurance was provided for farm animals, transport, property of the organization, and the harvest of farming cultures.