OREANDA-NEWS. April 05, 2010. Ingosstrakh paid over 1.3 mln rubles to agricultural cooperative Istok-1 for loss of winter wheat yield on a total area of 6,241 ha located in the Sarpinsky district in the Republic of the Republic of Kalmykia. The amount of insurance coverage provided by the Elista branch of Ingosstrakh for expected crop is more than 46.6 mln rubles. The entering into the insurance contract was supported by the government.

The insured event was soil and air drought during grain formation. To determine the extent of loss a survey was conducted. As a result the event was declared as insured event and Ingosstrakh paid out compensation to the farm.

The insured crop is subject to pledge of Rosselkhozbank to secure a loan obtained.