OREANDA-NEWS. April 27, 2011. The motor vessel „Arkaim-6”, insured in Ingosstrakh OJSCI under the insurance policy of ship owners' responsibility, on its way in the area of the port of Weihai (China) collided with the fishing vessel Lu Rong Yu 2807. In the result of the collision the ship Lu Rong Yu 2807 went down, and most of crewmembers totaling 8 people went missing.

To investigate all the circumstances and to ensure proper protection of the ship owner’s rights, Ingosstrakh OJSCI involved a local P&I correspondent/surveyor, independent technical examiners, and competent lawyers. Ingosstrakh OJSCI organized meetings with representatives of the ship LU RONG YU owners, and with relatives of sailors missing in action. As the result of lengthy negotiations an amicable agreement was reached, under which an amount of about USD 910,000 was transferred by Ingosstrakh OJSCI directly to the claimants at the request of the ship owner.

Aleksey Kasatikov, Deputy Head of Department of Special Risk Insurance Claims Settlement in Ingosstrakh OJSCI, said that cases of vessels collision are widespread for sea and river risks. According to Ingosstrakh OJSCI backlog, several dozens of such cases are registered every year. In some cases, at the request of the insurer, the company makes insurance payments directly to third parties in claims settlement, and it lets a ship owner avoid withdrawal of his own funds from the shipping company turnover. It is especially important for clients when large insured accidents happen.