OREANDA-NEWS. October 22, 2009. The insurance company ROSNO has paid OJSC AlphaStrakhovanie a regular tranche of reinsurance compensation in the amount of over 90 million roubles for the loss incurred as a result of the accident at the Chagino substation, reported the press-centre of ROSNO.

In October 2009, the insurance company ROSNO paid a scheduled tranche of reinsurance compensation equalling 92,383,000 roubles. As of 19 October 2009, the aggregate volume of compensation payments, including the share in loss minimization costs accrued on the loss of 73,660,000 roubles amounted to 942,122,000 roubles.

The accident occurred on 17 May 2008 during the equipment test launch procedure in the new building of the Chagino substation (500 kW) located in Moscow. The depressurization of the transformer storing about 50 tons of oil and the subsequent short circuit caused explosion and fire. The flame spread throughout the transformer, which was not connected to electricity network, and the total area under fire amounted to 500 sq.m. The aggregate loss from this insured accident exceeds 2.5 bn roubles.

"We pay reinsurance compensation in line with receipt of invoices and supporting documents, and on the basis of recommendations provided by engaged experts", comments M. Mumin, First Deputy Director of ROSNO’s Reinsurance Department. "At present, this loss is one of the biggest in the insurance history of the Russian power generation industry".