OREANDA-NEWS. February 01, 2011. Ingosstrakh OJSIC paid 5.8 mln rubles to Olkhovlogskoe LLC, located in Olkhov Log in the district of Kamensk of the Voronezh Region, due to the winter wheat crop failure.

The winter wheat crop with the total area of 1,026 hectares has been insured for the sum of 6.9 mln rubles.

The loss occurred because of the dangerous weather on January and July of this year. In winter the insured winter wheat crop failure occurred as a result of frost. Also the droughty weather of the summer passed has caused the significant crop damage. To determinate the amount of the damage caused some expertise has been required to reveal the insurance event, hence Ingosstrakh OJSIC paid to the company the total of the insurance compensation.

The insured crop is the subject of pledge of the Voronezh regional branch of the Rosselkhozbank JSC under the credit received.

Ingosstrakh OJSIC and Olkhovlogskoe LLC have been working together in the field of the insurance of the agricultural industry since 2006. During this period the livestock inventory, merchandise inventory, real estate, means of transport, equipment, machinery, the crops (future harvest) have been submitted to the insurance.