OREANDA-NEWS. September 11, 2008. The insurance company ROSNO has increased the insurance amount under the comprehensive liability insurance contract concluded with CJSC Registrar Company STATUS to 20,000,000 US Dollars, and insured the registrar’s electronic document exchange risks, reported the press-centre of ROSNO.

ROSNO has been named winner of the tender for selection of an insurance entity to insure liability of CJSC Registrar Company STATUS (hereinafter referred to as the "Registrar").

As a result of this tender victory, ROSNO has signed a comprehensive registrar’s professional liability insurance contract covering the registrar’s electronic document exchange. The contract has been concluded for one year.

In case of an insured accident, ROSNO undertakes to reimburse the third-party losses inflicted by the registrar in course of the latter’s insured activities. Such activity includes keeping of registers of the owners of registered securities, acting as a counting board at the general meetings of shareholders; acceptance of claims or revocations thereof from the shareholders on behalf of the issuers; and preparation of the lists of shareholders who presented claims and who are entitled to redemption, in cases where such stock redemption is conducted by joint-stock companies (issuers) upon request from shareholders.

The concluded contract contemplates protection against unintentional errors, negligence or any other omissions made by the registrar’s employees; as well as against wilful misconduct of employees and third parties; against electronic and computer crime; against loss of the information contained in registers; and against the risks associated with electronic document exchange.

ROSNO has been conducting combined insurance coverage of risks borne by the stock registration system (registrars and depositories) for the last 10 years, and it now has contracts with the leading Russian registrars and depositories. The insurer’s experts sit at the risk management committees set up by the NAUFOR and PARTAD.