OREANDA-NEWS. January 18, 2012. Ingosstrakh Insurance Company has paid more than 5 million rubles to Mikhailovskie prostory LLC, situated Tula Region, because of the harvest failure.

Under the contract, the spring barley crop on the total area of 1260 hectares has been insured for a total sum of 15.6 million rubles.

The insured event was drought, which led to the partial harvest failure. In order to determine the extent of damage which was suffered by Mikhailovskie prostory LLC the examination has been carried out. As a result, the event was recognized as insured and Ingosstrakh Insurance Company has paid the Company insurance indemnity in accordance with the terms of the contract.

This is to remember, that in January 2011 Ingosstrakh Insurance Company paid Mikhailovskie prostory LLC 4.3 million rubles due to loss of buckwheat and rape because of drought.

The insured crop was the subject of pledge of Tula regional branch of Rosselkhozbank as part of the loan.

Ingosstrakh Insurance Company and Mikhailovskie prostory LLC have been cooperating in the field of agricultural insurance since 2009. During this time, the insurance coverage has been provided for agricultural machinery, equipment, inventory, future harvest of agricultural crops.