OREANDA-NEWS. February 28 2011. Allianz Ukraine Insurance Company has completed settlement of a loss event related to a bulk transport vessel wreck in the Sea of Azov and compensated losses to a legal entity incurred at the time of rescuing the vessel and property under a voluntary water transport insurance agreement.

The bulk transport vessel insured with Allianz Ukraine got into an ice jam on the way. As a result the vessel hull and the transported cargo were damaged. Insurance coverage under the agreement included among others the risk of “general average”. Indemnity amounted to UAH 218,405.

Earlier Allianz Ukraine indemnified losses related to this wreck. In particular, payments under the voluntary vessel owner liability for the transported damaged cargo insurance agreement and the property insurance agreement were made for the damaged property – the vessel. In the first case indemnity amounted to UAH 1,127,161, while in the second – UAH 5,178,876.