OREANDA-NEWS. August 4, 2010. Ingostrakh paid insurance indemnity of 6.94 mln rubles to a major Russian bank after an ATM was burglarized and the cash was stolen. The police filed a criminal case under the Russian Criminal Code Article No 161 “Robbery".

As said in the resolution on criminal case initiation and other documents provided, on June 11, 2010 at about 3 a.m. unidentified persons entered the premises of a Moscow organization where the ATM was located, tied up the security officer, broke into the ATM and stole the money. Then the burglars escaped from scene of the crime having caused a major damage to the bank. Technical inspection has shown that the ATM is not subject to repair. After substantiating all the circumstances of the incident and obtaining all necessary documents Ingosstrakh recognized the incident as an insured event.

The damaged ATM with cash inside was insured by Ingosstrakh within the insurance program for ATMs containing cash. The insurance covers the indemnification of losses including those resulting from malicious acts of third parties, burglary and robbery.

The insurance indemnity was paid both for the stolen money and the damaged ATM according to its cost under the terms of the insurance police.