OREANDA-NEWS. February 16, 2012. Ingosstrakh Insurance Company in Novosibirsk effected the payment of 9.4 mln rubles due to the damage of summer wheat yields, owned by Yarkovskoe Agricultural Enterprise CJSC. The enterprise is located in Novosibirsk Region and is specialized in the grain crop production.

The prospective yield of summer wheat from 3,488 hectares area has been insured against such risks as hail, atmosphere and soil drought, frost, early occurrence/fall or formation of snow cover, storm wind (hurricane), water saturation of soil, fire, plant diseases, plants vermin attack and others.

The insured event was the soil drought, witnessed in Novosibirsk District of Novosibirsk Region within the period of July - August 2011, which resulted in reduction in the summer wheat yields. The damage extent was defined through the expert examination carried out to estimate the biological yield capacity of the affected crops. According to the examination results, the case was admitted as an insured event, and Ingosstrakh Insurance Company had to pay to Yarkovskoe Agricultural Enterprise CJSC the insurance indemnity to the full extent.

The insured yield was the subject of pledge of the Novosibirsk regional branch of OAO Rosselkhozbank in frames of the received credit.

Ingosstrakh Insurance Company and Yarkovskoe Agricultural Enterprise CJSC have been cooperating in the field of agro-industrial insurance regarding the equipment, facilities, animals, real estate, goods in stock, and further yields since 2006.

Yarkovskoe Agricultural Enterprise CJSC has already received  the payment in the amount of 165,790 rubles from Ingosstrakh Insurance Company in connection with the death of 13 bovine animals in 2007 and payment in the amount of 191,865 rubles due to shortage of the crop of spring wheat as a result of hail damage to 525 hectares in 2010. These assets also were the pledge to Rosselkhozbank OJSC.