OREANDA-NEWS. February 22, 2011. The representatives of Ingosstrakh OJSIC took part in the II Congress of the National Grain Producers Union that was held on February, 15, in Moscow.

The participants of the event included agricultural manufacturers of Russia’s main agrarian regions, directors of grain market enterprises, representatives of government authorities and public associations, leading experts. In the course of the event, they discussed the problems of the branch funding and the most burning issues of carrying out spring works on the fields ahead of the spring sowing season.

Nikolay Galushin, Deputy General Director of Ingosstrakh OJSIC, delivered a speech at the Congress. In his report, he revealed the reasons of crisis in agricultural insurance and suggested ways of overcoming the crisis, emphasizing the necessity of creating a transparent system of agricultural insurance.

Besides, N. Galushin noted that due to the drought of summer 2010, the level of payments by Ingosstrakh OJSIC amounted to 6 rubles of insurance indemnity per 1 ruble of insurance premium received from agricultural manufacturers. The total sum of payments to the agrarians who suffered from the drought amounted to 620 mln. rubles. The losses are still being reimbursed, the company reserves for the still-unpaid insurance cases amount to 600 mln. rubles. On the whole, in the past three years (beginning from 2008), Ingosstrakh has paid 1.2 bln. rubles to agricultural manufacturers for the risks of loss and destruction of harvest.

The National Grain Producers Union was created in March, 2010, for consolidation and coordination of efforts of the national grain manufacturers in resolving relevant problems of the branch. The main aims of the union are to increase the investment attractiveness of grain production in Russia, development of grain production with the use of innovative solutions, increasing the competitive advantage of the national grain on the world markets, representation and protection of the common interests of Union members. The main task of the Union is to form a system, which will ensure guaranteed volume and range, high quality and profitability of grain production.