OREANDA-NEWS. October 20, 2011. Ingosstrakh Insurance Company acted as the general partner of the "Compulsory insurance of hazardous facilities in Russia" conference, which was held on October 18, 2011 in Moscow. The conference was organized by Expert RA.

The participants of the conference discussed possible scenarios concerning the imposition of compulsory insurance of hazardous facilities from January 1, 2012, as well as conditions and key performance indicators, modifying factors, improvement of the risk protection of enterprises due to insurance, right of recourse, control over the execution of the law on hazardous facilities, ways to minimize the insufficiency of insurance premiums for individual types of facilities, reinsurance issues (both in Russia and in international markets). The conference was also devoted to issues concerning the self-discipline and cleanliness of insurers providing services related to compulsory insurance of hazardous facilities.

Top managers of insurance companies, heads of professional and industry associa-tions, as well as power officials attended the conference. Nikolai Galushin, Deputy Director General, Ingosstrakh Insurance Company, spoke at the conference. He covered the issues related to the medium and long term impact of the new law – both for the insurance community, and enterprises that utilize hazardous facilities, as well as for the population.

N. Galushin emphasized that the basic require-ments are already determined by law, and insurance companies and industrial enterprises are to obey the rules. An important role in payment of the guaranteed insurance indemnity will belong to the reinsurance of large risks, the National Union of Liability Insurers should strictly control the financial state of its members, as well as their compliance with the rules of professional conduct.