OREANDA-NEWS. February 11, 2014. IC Allianz has reimbursed damage to three farm businesses in the Amur region, which lost their soy yield due to soil overdamping and flood. The total indemnity amounted to 13.3 mln rubles.

The payments went to Muravyevskiy farmer cooperative in the Tambovsky district in the amount of more than 5.1 mln rubles; Amurskaya Zernovaya Kompanya LLC in the Konstantinovsky district in the amount of about 1.7 mln rubles; and a private entrepreneur’s farm in the Belogorsky district in the amount over 6.5 mln rubles.

These were the final payments in handling IC Allianz claims under government supported insurance contracts with agrarians of Amur region who suffered from the summer flood 2013. The insurance company has performed its obligations in full in accordance with current legislation, concluded contracts and claims received from insured persons. As a result, 9 farm businesses have received insurance indemnity under 10 insurance contracts to the total amount over 76 mln rubles.

Comment by Yury Volovik, Head of Agro Insurance, IC Allianz: "Allianz was the only company that insured agricultural goods producers against yield loss risks in Amur region in 2013. The insurance indemnities we paid will enable the farms to improve their financial situation after the yield loss. Allianz is going to continue its extensive operations on the agro insurance market in order to provide agricultural producers with a reliable insurance coverage. We use our huge experience as a shareholder in different countries of the world and satellite technologies to contribute to precise agriculture development".