OREANDA-NEWS. May 05, 2010. The aggregate amount of insurance compensations paid by ROSNO’s South Directorate to agricultural producers in the cases of crop loss or shortage in 2009 equaled 84 mln. roubles, which is 4.5 times more than in 2008, reported the press-centre of ROSNO.

The agricultural area covered by ROSNO’s insurance protection grew as well. While in 2008, the agricultural companies of the Southern Federal Okrug insured crops in the total area of 110 thousand hectares, in 2009 the insured area reached 278 thousand hectares (+252%).

"Agricultural enterprises started using insurance more intensively, because this instrument enables farmers to minimize their risks and replenish working capital", notes Mr. Leonid Golovanov, head of ROSNO’s Agricultural and Natural Risks Insurance Department. — "ROSNO ensures high quality of insurance services rendered to agricultural producers. Throughout the duration of the agricultural insurance contract, the company’s specialists visit the clients, meet their agronomists, discuss technological issues and assist in procuring and issuing the documents required for the subsidy application procedure, conclusion of insurance contracts and receiving insurance compensations. All insurance compensations are paid as promptly as possible, since, during the sowing campaign, farmers attach great importance to each and every day and every rouble".

In 2009, grain crop loss and shortage in the southern regions of Russia primarily resulted from such hazardous natural phenomena as drought, frosting, and hail. The largest quantity of insured accidents under crop insurance contracts were settled by the Volgograd, Rostov and Stavropol branches of ROSNO’s South Directorate. The largest insurance compensations paid in 2009 were received by the farms located in the Volgograd Region (for the total amount exceeding 46.5 mln. roubles).