OREANDA-NEWS. May 18, 2010. Ingosstrakh paid out 296,560 Euros as final insurance indemnity for damage and loss of freight related to failure of the main engine of Taigeta cargo vessel.

On August 16, 2008, during in-ballast passage from Grimsby (Great Britain) to Bergen (Norway). Taigeta suffered  engine failure. The vessel is insured by Ingosstrakh under total loss and damage hull insurance policy including loss of freight risk. The repair work was conducted in the port of Klaipeda (Lithuania). In November 2008 Ingosstrakh paid 300,000 euros for timely purchase of required spare parts. After the repair work the final claim for damage and loss of freight was settled and the amount of 296,560 euros was paid. Therefore, Ingosstrakh paid a total compensation of 596,560 euros to the client for this insured event.