OREANDA-NEWS. August 06, 2009. 40 employees of the Nizhegorodsky Engineering Plant have been insured under the program "Korporativnaya Renta" (Corporate Rent) (provision of insurance coverage of annuities /pensions/ for legal entities), reported the press-centre of ROSNO.

The aggregate contractual insurance amount is 11.3 million roubles.

The contract has been concluded using the option "multicurrency basket", whereas savings under the policy are accumulated simultaneously in several currencies, thus enabling diversification of risks associated with exchange rate fluctuations and preserving stable value of the savings. Upon the client’s discretion and in accordance with the contractual provisions, the insurance amount has been divided into three amounts in different currencies: 4.5 mln roubles, 104 thousand US dollars and 75.5 thousand euro. The program contemplates insurance coverage against such risks as "Death within stipulated annuity period", "Death prior to stipulated annuity period", and "Survival of insurant beyond stipulated date". The contract will be valid for 5 years.

According to Ms. Olga Stepanova, head of the Volgo-Vyatka Regional Directorate of Allianz ROSNO Life, an increasing number of large industrial enterprises operating in the Nizhny Novgorod Region, show interest towards corporate life insurance programs. "The far-sighted executives, in particular, the CEO of OJSC Nizhegorodsky Engineering Plant Ms. Elena Kravchenko, view life insurance not only as an instrument for insurance coverage of employees working at hazardous industrial objects, thus caring about employees and their families, but also as an instrument of improving the organization’s financial stability and efficiency of human resource management. In this particular case, pension insurance is used to provide incentives for, guarantee retention and long-term motivation of, the plant’s key personnel", commented on this contract Ms. O. Stepanova.