OREANDA-NEWS. April 19, 2010. Ingosstrakh has made an insurance indemnity payment in favour of its client – one of Russia’s major banks – in the amount of 8,5 mln rubles in connection with the breaking of an ATM by unidentified intruders and the theft of all the cash that was contained in it.

Law enforcement services have initiated criminal proceedings pursuant to Article 161 of the RF Criminal Code – Robbery. According to the order on institution of criminal proceedings and other documents available, on the night of December 13 to 14, 2009, unidentified individuals had penetrated the premises of one of Moscow organisations where an ATM was placed, tied up the security guard and broke into the ATM stealing the cash that was inside. Having done that, they fled from the scene of the crime which had resulted in an especially large damage to the bank.

The damaged ATM, as well as the cash that was in it, had been insured by Ingosstrakh under the ATM and cash insurance programme. The coverage provides for compensation of losses, including losses resulting from burglary, robbery and violent robbery.

The damaged ATM is beyond repair.

The total amount of loss suffered by the Insurant with respect to the damaged ATM and the cash in it was over 8,5 mln rubles.

After establishing all the circumstances of the occurrence and receiving a whole set of necessary documents, a decision was made on acknowledging the occurrence as an insured event and payment of a respective insurance indemnity.

According to Alexander Manokhin, the head of the Department of Settlement of Claims related to Property and Liability Insurance at Ingosstrakh OJSIC, ATM break-ins, instances of cash theft by way of ATM break-ins, robbery-related assault are becoming increasingly frequent. This happens even despite such protection measures as a centralised alarm system connected to the extra-departamental police security service panel, a video surveillance system or even security guards, being in place. The total amount of the insurance indemnity paid by Ingosstrakh OJSIC since the beginning of the year under 8 categories of this type of losses had reached 27,3 mln rubles.