OREANDA-NEWS. July 20, 2010. During the period from July 1 to July 15, 17 insurants’ notices of damage under crop insurance contracts due to draught of 2010 were registered in Ingosstrakh for a total amount of more than 145.3 mln rubles.

It should be noted that in May of this year only one notice of damage was laid for this reason for the amount of more than 5.5 mln rubles, and in June – 27 notices of damage for the amount of more than 98.7 mln rubles.

At present, the amounts of damage are being promptly estimated upon the notices of the insurants. Experts of Ingosstrakh go to the fields and examine the crops to estimate their condition and determine the facts of damage and loss. Decisions on insurance indemnity payments will be made promptly. The decision is made in the company that in cases when according to the results of the examination of the crops by the expert organization total loss (inexpediency of harvesting) is stated, the insurance indemnity will be paid before the provision of reporting forms from agricultural producers that are usually made in October.

From the beginning of this year until today, Ingosstrakh has paid indemnities to agricultural producers under 110 insured events for the total amount of about 104 mln rubles. 

It will be recalled that in the Volga District and in some parts of the Central, Ural and Southern Federal Districts due to negative influence of the draught reduction in yields and gross grain harvest is predicted. According to the investigative information of the Russian Ministry of Agriculture for July 15, the loss of crops has took place over the area of 9.6 mln ha in the constituents of the Russian Federation influenced by the draught.  State of emergency was declared in 17 constituents of the Russian Federation, two more regions are preparing for this. According to the experts’ information, only 20% of crops are insured in Russia.

Ingosstrkh estimated all risks accepted for insurance. All claimed losses are due to dangerous natural phenomena and not due to departures in agrotechnical measures. ‘Prompt and full settlement of losses in rural areas is the priority task of the company’, comments Deputy CEO of Ingosstrakh, Nikolay Galushin.– ‘Still I would like to say that the economic damage of abnormal meteorological conditions of this summer could have been less if agricultural producers had realized the necessity of insurance which is the most important factor of the general food security of the country’.