OREANDA-NEWS. March 16, 2010. Ingosstrakh paid out more than 5,400,000 rubles to Erentsen peasant farm holding for the loss of harvest of winter wheat on total area of 1530 ha and oil-bearing plants on total area of 477 ha, in Maloderbetovsky region of the Republic of Kalmykia. The expected harvest was insured by Ingosstrakh OJSIC branch in the city of Elista in the amount of more than 9,300,000 rubles. Making of the insurance contract was supported by the government.

The autumn draught which caused the oppression of young crops in the entire area comprised the insured event. To determine the extent of loss an examination was conducted in the result of which the event was declared as insured and Ingosstrakh paid out compensation to the farm holding.

The insured harvest was subject to pledge of Rosselkhozbank as part of the loan obtained. T. Savenkova, manager of the subsidiary office of the Kalmyk branch of Rosselkhozbank OJSC in the village of Malye Derbety, noted that the insurance indemnity let Erentsen peasant farm holding to partially repay indebtedness under bank loans.

Erentsen peasant farm holding has specialized in growing plants (grain, oil-bearing and feed crops) and beef husbandry (cattle, horses, sheep) since its establishment in 1992.