OREANDA-NEWS. November 26, 2007. ROSNO’s Samara branch has insured liability of appraisers (both individuals and legal entities) operating in Samara and the Samara Region for the total insurance amount of over 20,000,000 roubles, reported the press-centre of ROSNO.

The concluded contracts cover both individuals (under the obligatory insurance contracts) and legal entities (under the voluntary insurance contracts). In both cases, the policies protect insurants against liability arising from the damage inflicted to the clients who have concluded the appraisal contract or the damage inflicted to third parties in course of their professional activity.

The insured accident is the fact of damage inflicted to third parties through violation of the RF laws regulating appraisal services, federal appraisal standards established by the self-regulating association of appraisers, as well as other standards and rules applicable to appraisal services.

According to the insurance terms, the contracts are valid for one year. However, provided that, during limitation period, the insurant incurs civil liability for reimbursement of damage to third parties in connection with the abovementioned risks, such insurant may apply to ROSNO for insurance compensation.

In total, the company has concluded 28 contracts with appraisers operating in Samara and the Samara Region.