OREANDA-NEWS. April 12, 2010. In response to the regular public revelation of information on debtor companies in respect of subrogation payments some of them start to blame Ingosstrakh OJSIC for its indiscretion, legally unconsidered attitude and intention to promote itself through the issue of subrogation payments. Due to this Ingosstrakh OJSIC officially reiterates its principled attitude towards the companies which do not pay, do not want to pay and make selective subrogation payments. We would like to remind that:

Within more than one year and a half Ingosstrakh OJSIC has been requesting the debtors to start performing their obligations Even appropriate agreements were signed with some of them. However the most part of the debtors did not take any action or did not fulfill their contractual obligations

Ingosstrakh OJSIC protects the interests of its clients and shareholders as well as of the civilized Russian market because it is sure that the market shall be made up of reliable and financially stable insurance companies.

Statements regarding the Ingosstrakh OJSIC tough attitude, its nonconstructivity and unfriendliness cannot be deemed as reasonable because each licensed insurance company shall build up and have reserves sufficient to secure all its insurance commitments including those for subrogation payments. Failure to fulfill its obligations gives evidence of the company’s financial instability and shall cause higher interest of governmental regulatory authorities. Statements of debtor companies containing criticisms of Ingosstrakh OJSIC attitude towards this issue are nothing but juggling with words and can be deemed by Ingosstrakh OJSIC only as an attempt of such company to conceal its default.