OREANDA-NEWS. November 29, 2011. Ingosstrakh Insurance Company has paid insurance indemnity for professional liability of a registrar – securities market participant in the amount of 1.5 mln. USD, which was the largest compensation in its history.

The loss appeared due to unlawful acts of third parties in writing-off of shares from the shareholder's account in the Register of securities owners by forged documents. Earlier, on the ground of court decision the emitter recouped for losses caused to the shareholders, which subsequently were presented for recovery from the registrar.

This payment was one of the most difficult and controversial in the settlement practice in this area of insurance. Originally the loss was stated in 2005, and since then it was subject to consideration, which depended on the outcome of the criminal case and the decision on the litigation between a shareholder victim and the emitter, the Register of which was maintained by the registrar.

It should be noted that the above mentioned trial of the emitter and shareholder was also suspended for a period of more than 2 years in connection with the verification of constitutionality of one of the provisions of Article 44 of the Federal Law "On Joint-Stock Companies" in the Constitutional Court of Russia.

It is a reminder that Ingosstrakh Insurance Company has more than 10 years of experience in the implementation of this type of insurance, and it is the fifth payment of insurance compensation to the companies for the last three years.