OREANDA-NEWS. May 20, 2011. Vologda-ROSNO branch of the North-Western Directorate has concluded two insurance contracts with agricultural firms located in the Vologda Region: SHP Ostakhovo Ltd. and SHP Kurkino Ltd. The aggregate contractual insurance amount is 37,543,781 roubles, reported the press-centre of ROSNO.

Under the contract with SHP Ostakhovo Ltd., insurance protection has been provided for barley and oat crops within a total area of 1,000 ha. Under the contract with SHP Kurkino Ltd., insurance coverage applies to wheat, barley, oat, pea and potato crops within a total area of 1,581 ha. The insured fields are located in the village Ostakhovo, as well as in Mayskoye and Semyonovskoye rural settlements respectively.

The concluded contracts contemplate payment of insurance compensation for the damage inflicted to crops by the following hazardous natural phenomena: drought (in the air or in the soil), frost, winterkill, rotting, hail, dust and sand storms, earthquake, avalanche, mudflow, spring tide, and soil overmoistening.

The insurance contract will be valid till November 2011, which is the agrotechnical deadline for harvesting the insured crops.