OREANDA-NEWS. August 16, 2012. Recently, the National Joint Stock Insurance Company Oranta became the object of unfair business practices aimed at discrediting the company. In this regard, management and members of the Ukrainian Insurance Federation expressed support to the management of Oranta and to the company in general.

Oranta actively participates in the formation of transparent classic insurance market in Ukraine, and advocates the adoption of European principles of insurance and conscientious business practices. Like other members of the Ukrainian Insurance Federation, the company meets its compliance with its charter obligation to UIF and publicly reveals its activities to all stakeholders, according to UIF procedures via http://ufu.org.ua. Company’s position can be estimated from other independent sources, including data on companies that are available at the Motor (Transport) Insurance Bureau of Ukraine or magazine Insurance Top. This information shows the financial position of the company that provides obligations to its customers, in particular, the sufficiency of funds and other assets of Oranta and ability to perform other obligations as well as an adequate level of insurance cases and low level of complaints against the insurer under contracts of compulsory insurance of civil liability of owners of vehicles (http://mtsbu.kiev.ua).

Ukrainian Insurance Federation condemns the aggressive campaign waged against Oranta in online media aimed at discrediting the company, destabilizing its work, confusing its clients thus causing their discontent, and undermining the confidence in the company’s reputation.

Such uncivilized campaign deployed against Oranta harms not only the company but the insurance market as a whole. In this connection the Ukrainian Insurance Federation calls on the competent authorities to use strong legal measures against performers of these actions.