OREANDA-NEWS. July 18, 2007. ROSNO’s Middle-Volga Directorate and Investment and Construction Company Poisk Ltd. have concluded a comprehensive contract providing insurance of civil liability for the damage inflicted to third parties during operation of hazardous industrial facilities. The contractual insurance amount equalled 3 mln. roubles.

The contract insures the property interest related to the insurant’s obligation to reimburse the damage inflicted to third parties due to any breakdown or incident occurring at the oil products storage and transshipment site and railway approach to the site or gas station, located in the town Pokhvistnevo (Samara Region).

The insurance policy covers the risks related to infliction of any harm or damage to life, health or property of third parties, or to the environment, due to any breakdown or incident at the operated facility.

"Unfortunately, at present, accidents at the hazardous industrial facilities represent a quite widespread phenomenon in Russia. The damage inflicted to third parties and the environment may cost millions of roubles and, most terribly, many human lives. Management of the large, socially responsible companies is increasingly paying attention to these problems and ordering insurance services", notes Mr. Alexander Mamonov, head of ROSNO’s Middle-Volga Directorate.

ROSNO provides insurance of liability for the damage inflicted during operation of hazardous industrial facilities since 1997. Throughout this period, ROSNO has concluded over 35,000 insurance contracts with companies from various industries.