OREANDA-NEWS. November 9, 2011. Ingosstrakh Insurance Company and Soglassye signed a contract for co-insurance of third party liability of Terminal JSC in operating Terminal D of the Sheremetyevo airport.

The companies won the open tender held by Terminal JSC.

Under the insurance contract, the Coinsurers undertake to compensate third parties for all the damages to their health, life and/or property resulting from the operation by the Insured of the Terminal D air terminal complex.

The total coverage limit of the Coinsurers under the contract signed amounts to USD 75 million, with Soglassye Insurance Company and Ingosstrakh Insurance Company holding 50% of shares each. The insurance contract validity period is one year.

"First of all, we not only care about physical and psychological comfort of staying in Terminal D of the Sheremetyevo Airport, we also want to enhance the safety of our passengers. That is why the airport's public liability insurance was one of the priority objectives in providing complex insurance coverage of the Terminal D activities. And we are glad that two leading insurers joined in an alliance to satisfy our needs to the fullest extent," said Vladimir Buryak, CEO of Terminal JSC.

Elena Bocharova, Deputy CEO of Soglassye Insurance Company for Corporate Business claimed: "Signing a contract for liability co-insurance of the Terminal D air terminal complex of the Sheremetyevo airport is an example of a successful cooperation of such leaders on the Russian insurance market as Ingosstrakh Insurance Company and Soglassye Insurance Company. Such alliances of insurers in signing insurance contracts with a large coverage limit for large-scale risks allow the Russian insurance market to implement its possibilities to the fullest extent possible."

Nikolay Galushin, Deputy CEO of Ingosstrakh for Corporate Business noted: "The priority task for the management of Terminal D is to ensure an efficient insurance coverage. Choosing an insurance partner, the airport management puts forward high demands focusing on reliability, professionalism, reputation of the counterparty and its compliance with high international standards. In future, Ingosstrakh hopes to expand the line of insurance products which might be called for by Terminal D in conducting its day-to-day business."