OREANDA-NEWS. July 19, 2010. Ingosstrakh won an open tender for the right to enter into a third party liability insurance contract with State ATM Corporation. The limit of insurance liability is 1 bln US dollars. The results of the tender were published on State ATM Corporation’s official website.

The term of the contract is three years. Before 2010 Ingosstrakh (the leading aviation insurer in Russia) had never provided liability insurance to State ATM Corporation. As of the publishing of information on victory in the tender, the company, with the assistance of a brokers consortium (Russian broker Malakut and English broker UIB), fully spread the risk among the leading international reinsurance companies. Liability under the insurance contract will start on 00:00 of July 15, 2010.

The insurance contract provides for coverage of State ATM Corporation's property interests related to its liability to refund third parties for damage caused to their life, health or property in connection with performance of the insured’s air traffic monitoring activity in the Russian Federation and abroad.