OREANDA-NEWS. On 4 September 2009 was announced, that the Ministry of Finance of Ukraine transferred Oranta National Joint-Stock Insurance Company UAH 2 million out of UAH 6 million that the state planned to use in 2009 for compensating Ukrainian citizens' losses from depreciated insurance premiums that they paid until January 2, 1992, to state insurance institutions of the USSR operating on Ukraine's territory.

According to the procedure, compensations will be paid to the heirs of assureds and insureds who were covered by mixed life insurance, child insurance, wedding insurance, insurance for students of boarding schools, voluntary additional pension insurance for workers, clerks and collective farmers, but died in 2006-2008 and were not therefore compensated for their cash assets that depreciated within 2006-2008. In addition, compensations will be paid to the heirs of the assureds and insureds that died in 2009.Compensations will be based on the indexed balance of insurance premiums but will not exceed UAH 500.

To receive compensation, the eligible person should submit an application to the Oranta's directorate where he/she concluded insurance contract and provide the following documents with the application: an insurance certificate, the original and copy of the as/insured’ death certificate (for people who died in 2006-2009), passport or another equivalent document, and identification number. People who incurred burial expenses should also submit corresponding certificates about such expenses.

Compensations will be paid from September to December 25, 2009, inclusive.