OREANDA-NEWS. December 21, 2010. Ingosstrakh OJSIC became the main sponsor of the VII annual conference ‘Agro Holdings of Russia’ that was held at the Ararat Park Hyatt hotel in Moscow. The participants in the conference included the president of the Russian Grain Union Arkady Zlochevsky, President of the National Union of Grain Producers, Pavel Skurikhin, representatives of industry associations, top managers of the leading companies and experts.

The participants discussed such topics as the development of agriculture after the contraction the sector went through following the global financial crisis and the global drought of 2010, financing agro projects and modern investment models, credit financing, insurance, leasing and audit in agriculture, cost control and cost reduction, current trends in the markets of the main commodities; grain, meat and milk

The conference was addressed by Delyara Sangadzhieva, the head of Ingosstrakh’s Directorate for Agricultural Insurance. In her address she stressed that the only control mechanism available in the insurance, reinsurance and the substantiation of indemnity payments in agriculture is the standardisation of the entire process of interaction between the market participants. Only state authorities are able to set up barriers to prevent insurance machinations. Therefore the state must pursue a very strict and consistent policy of monitoring the financial conditions of insurers, standardising  insurance methodologies and providing state support where necessary.

Ms Sangadzhieva also noted that a law on agricultural insurance is necessary to ensure maximum transparency of insurance products, budgeted performance of their obligations by both insurers and agricultural producers, develop a standardised methodology for providing insurance and settling claims, and include cattle and fishery in the programme of state insurance support. All these measures will help develop an insurance culture in urban areas and promote the use of insurance by 100% of agricultural producers.