OREANDA-NEWS. January 18, 2011. The new program has been included in the company’s product line dedicated to insurance coverage of legal entities’ exposure to unforeseen expenses. The program has been developed taking into account the needs of those who are interested in such insurance protection — namely, the organizations operating hazardous industrial facilities and performing life sustenance operations (housing, transport and other sectors).

The risk of breakdowns and emergency situations, which is borne by the companies operating hazardous industrial facilities and life sustenance objects is quite high. According to the RF EMERCOM data, in 2009, 429 emergency situations were registered in Russia, including 265 situations of anthropogenic nature. The financial costs of liquidation and localization of such accidents are almost always significant, being capable of undermining financial stability of any business. And once, as from 2011, the civil liability for potential damage inflicted to third parties in course of operation of hazardous industrial facilities is mandatorily insured pursuant to the law, the companies’ costs of liquidating emergency situations will be borne by the owners, whether the latter do or do not operate such hazardous facilities.

"Insurance coverage of the costs of localizing and liquidating breakdowns and emergency situations relieves the company’s budget and enables the company to retain the funds assigned for emergencies. According to the RF Rostekhnadzor data, as of the beginning of 2010, the state register contained information about 298,567 hazardous industrial facilities operated by 124,671 organizations (excluding housing and transportation enterprises). 97% of them had their civil liability to third parties insured, but no more than 1% of them had insured their risk of emergency localization and liquidation costs. Therefore, the development of this type of insurance has a promising future", notes Mr. Vitaly Us, Director of ROSNO’s Financial Risks Insurance Department.

Under the new program, the insured accident includes additional and unforeseen expenses incurred by the insurant in connection with measures taken to localize and liquidate the consequences of breakdowns and emergencies resulting from fires and/or explosions, natural disasters, etc.

Among the measures included in the insurance coverage are the following: performance of search and rescue operations; purchase, delivery and short-term storage of material resources for the purpose of primary life sustenance and support of the aggrieved population; deployment and maintenance of temporary accommodation and boarding points for the victims; performance of emergency liquidation measures; restoration of the life sustenance facilities, etc.