OREANDA-NEWS. July 07, 2010. The Ingosstrakh branch in Elista paid 3.9 mln rubles to agricultural co-operative, stock breeding facility “Gigant” in connection with partial loss of future winter wheat crop. Crops on the area of 931 ha in the fields of the agricultural production cooperative in Sarpinsky District, Republic of Kalmykia, were insured for the total amount of 7,2 mln rubles.

The insured event was an air and soil draught which led to partial winter wheat crop loss. As a result of the expert survey performed to assess the damage, the event was recognized as an insured event and Ingosstrakh paid insurance indemnity to agricultural co-operative “Plemzavod “Gigant”.

The insured crop was pledged to Kalmykia regional branch of Rosselkhozbank to secure a loan and was insured due to governmental support program.

Ingosstrakh branch in Elista has been cooperating with the stock breeding facility “Gigant” in the field of agro-industrial insurance since 2007. During this time, harvest has repeatedly been insured. In year 2007 the insurer paid to the agricultural facility insurance indemnity of 4,4 mln rubles for winter crop loss as a result of frost-killing.