OREANDA-NEWS. April 1, 2011. OJSIC Ingosstrakh paid RUB 2.77 million to the Federal State Unitary Enterprise Arkadskaya Agricultural Experimental Station of the Russian Academy of Agricultural Science located at Arkadsky district of the Saratov region due to the loss of crop.

According to the contract, the crop of spring wheat and barley at the total area of 2,000 hectares was ensured for the amount of RUB 8.7 million.

Last summer’s drought became the insurance event. It is worth reminding that due to abnormal heat and lack of rain in summer 2010 an emergency situation was announced in the Saratov region and in some other areas. Agricultural producers suffered losses in the amount of millions of rubles. Examination was conducted in order to determine the size of damage suffered by Arkadskaya Agricultural Experimental Station. As a result, the event was acknowledged as the insurance event and OJSIC Ingosstrakh paid the insurance indemnity to the enterprise in full.

The insured crop is an object of lien by the Saratov regional branch of JSC  Rosselkhozbank as a part of loan issued.

OJSIC Ingosstrakh and FSUE Arkadskaya Agricultural Experimental Station cooperate in the area of agri-industrial insurance since 2006. During this period the flowing was insured: machinery, agricultural equipment, inventory, real estate, as well as spring and winter crops.