OREANDA-NEWS. April 1, 2011. OJSIC Ingosstrakh paid 46.5 million rubles to the agricultural enterprise located in Altyashevsky District of the Republic of Mordovia due to the loss of crop.

Under the agreement, the crop of white beet at the area of 800 hectares and pea at the area of 776 hectares was ensured against full or partial loss for the total amount of RUB 66 million.

Last summer’s record drought in the region became an insurance event, which led to millions of rubles in losses suffered by agricultural producers. As a result of examination the event was acknowledged as the insurance event and OJSIC Ingosstrakh paid the insurance indemnity to the agricultural enterprise in full. It is worth noting that in December 2010 the same enterprise already received compensation in the amount of RUB 6.4 million for the crop of spring wheat lost due to drought.

The insured crop is an object of lien by the Mordovian regional branch of JSC  Rosselkhozbank as a part of loan issued.