OREANDA-NEWS. September 19, 2011. Ingosstrakh Insurance Company concluded construction and assembly risks, and civil liability insurance contract with STRABAG AG, general contractor of Olympic Village construction project in Sochi.

Construction and assembly works of the main Olympic village for 3000 persons in Imeretinskaya Lowland are covered by Ingosstrakh Insurance Company. The construction of set of buildings and structures for accommodation of representatives of Olympic family International Paralympic Committee with 4-star service quality (for 1285 apartments) are also insured. The total area of buildings will exceed 330 square meters.

The insurance coverage for contract facilities amounts to RUR 12.56 bln, and RUR200 mln for third party liability.

In accordance with the agreement the construction and assembly projects and related works, construction materials, structures, installation of equipment, debris removal costs, construction site arrangement, construction machinery, equipment etc will be covered against material damage. The policy will be effective not only for the period of construction and assembly works, but for entire warranty period until October 2015.

Ingosstrakh Insurance Company is an official partner of XXII Winter Olympic Games and XI Winter Paralympic games 2014 in Sochi. The respective agreements have been signed in September 2010. Moreover, Ingosstrakh Insurance Company acted as general insurer of XXII Summer Olympic Games in Moscow in 1980.