OREANDA-NEWS  On 24 November was announced, that the branch of IJSC Ingosstrakh in Archangelsk executed a hull insurance contract with Kipelovo Forestry Concern. The total insured amount is RUR19.5mln. The insurance policy covers 20 vehicles.

Pursuant to the terms of the agreement, the vehicles owned by the enterprise are insured against the risks of theft, damage, accidents, vandalism, damage by falling objects, natural calamities and damage by animals.

‘Motor vehicle insurance today is one of the most prospective areas of business where the branch is engaged, says Director of the Branch of IJSC Ingosstrakh in Archangelsk Nikolay Kruglyak. According to 9 months 2008 results, the branch collected RUR11519k in insurance premium under all types of motor vehicle insurance (compulsory third-party motor vehicle liability insurance, hull insurance, voluntary third-party motor vehicle liability insurance), or 35% higher than during the first nine months of the previous year.’

Kipelovo Forestry Concern was founded in 1996 in Vologda. Since 2007 the concern has been part of ZAO Investlesprom, a holding company. LPK Kipelovo manages the woodworking plants of the concern based in the Vologda Region and in the south of the Archangelsk Region (KFE Business Unit (Kipelovo Forestry Enterprises). The annual yield reported by KFE amounts to 1.0mln m3, including 53% harvested with mechanical felling technology, 50% with manual felling, and 20% harvested by contractors. The vehicle fleet is represented by 50 harvesting vehicles by foreign manufacturers, 124 timber trucks, and about 500 vehicles of other designation.