OREANDA-NEWS. February 6, 2012. Ingosstrakh Insurance Company has paid over 6 mln rubles to Erdem Agricultural Production Cooperative located in Kurumkansky District of the Buryat Republic due to harvest failure.

According to the agreement, spring wheat harvest at area of 1,200 ha was insured against shortfall and total loss.

The insurance event is crop damage resulting from soil drought in June 2011. A special assessment was needed to determine the amount of loss. As a result, the event was deemed insured, and Ingosstrakh Insurance Company paid an insurance indemnity to the enterprise pursuant to the terms of the contract.

Ingosstrakh Insurance Company and Erdem Agricultural Production Cooperative have been cooperating in different kinds of insurance since 2008. Along with crop harvest, transport vehicles and agricultural equipment have been insured at different times.