OREANDA-NEWS. March 30, 2011. Ingosstrakh OJSIC has paid RUB 5 million to peasant farm holding (PFH) Zarechye located in Schekinsk district of the Tula region due to bad potato crop.

The crop of potato at the total area of 270 hectares was ensured against full or partial loss for the total amount of 15 million rubles.

Last summer’s unfavorable weather conditions became an insurance event. Due to abnormally hot and dry weather, the potato crop in 2010 was significantly smaller compared to 2009. In order to determine the amount of damage an examination was held, according to which the event was acknowledged as insurance event and Ingosstrakh OJSIC paid PFH the insurance indemnity to the enterprise as per terms and conditions of the agreement.

The insured crop is an object of lien by the Tula regional branch of Rosselkhozbank OJSC as a part of loan issued earlier.

Ingosstrakh OJSIC and Zarechye PFH have been co-operating in the field of agri-industrial insurance since 2006. During this period the flowing was insured: future crops, agricultural equipment and accessories.