Ingosstrakh Paid out more than USD 300 000

OREANDA-NEWS. October 28, 2011. Ingosstrakh Insurance Company paid out more than 300 000 U.S. Dollars on the fact of contamination of the Klaksvik port aquatorium on 04.17.2010 in the Faroe Islands, Denmark.

April 17, 2010 during the fuel transfer at the port of Klaksvik a spill of fuel from one of the three ships owned by "Murmansk Trawl Fleet" OJSC standing at the pier was re-ported. The ship owner’s liability was insured for all three ships in Ingosstrakh Insurance Company. Fuel sample analysis carried out later showed that the source of pollution was "Sapfir" transport refrigerator.

In order to avoid the ships arrest, regarding this occasion Ingosstrakh Insurance Company has issued a letter of guarantee amounting to 500.000 Danish kroner (about 1 million U.S. dollars) on behalf of the ship owner as a security for the future claims of Municipality of the City of Klaksvik.

For protecting the interests of the ship owner, and in accordance with conditions of the insurance policy, Ingosstrakh Insurance Company nominated a local correspondent and surveyor. With the participation of the latter jointly with the Municipality of the City of Klaksvik by the efforts of a local fire brigade the works both for preventing the immediate effects of the spill (producing booms and the primary fuel collecting), and the subsequent liquidation of the accident in terms of cleaning the shoreline have been organized. By the end of September 2010 works for cleaning the shoreline of a total length of 800 meters have been completed, after which the Ingosstrakh Insurance Company representatives held negotiations with Klaksvik Administration. During the meeting the Parties have reached a final agreement on the settlement of all claims of the local authorities regarding this occasion in the amount of 1.7 million Danish kroner (more than 300 000 U.S. dollars).

At the request of the insured, Ingosstrakh Insurance Company transferred a sum of insurance indemnity directly to the account of the Municipality of the City of Klaksvik in October 2011.