OREANDA-NEWS. February 04, 2011. Ingosstrakh OJSIC paid 4.3 mln rubles to Mikhailovskie Prostory LLC located in the Tula Region, in connection with harvest failure.

According to the agreement, the harvest of buckwheat on the area of 330 hectares and rapeseed on the area of 704 hectares were insured for the total sum of 14.4 mln rubles.

The insurance event was the last year’s drought which resulted in partial failure of crops. An expert examination had to be held to determine the damage done to Mikhailovskie Prostory LLC. As a result, the event was considered to be an insurance event, and Ingosstrakh OJSIC paid the company the full amount of insurance indemnity. Let us remind you that in December, 2010, Ingosstrakh OJSIC paid 2.4 mln rubles to Mikhailovskie Prostory LLC in connection with the failure of winter wheat harvest.

The insured harvest is the pledge of Tula regional subsidiary of Rosselkhozbank OJSC within the framework of the loan received.

Ingostrakh OJSIC and Mikhailovskie Prostory LLC have cooperated in the sphere of agricultural insurance since 2009. During this time, the following items were insured: agricultural equipment, equipment, goods stock, future harvest of agricultural crops.