OREANDA-NEWS. May 3, 2012. On April 26 current year, the awarding ceremony of the winners of Russian Building Olympus 2012 Prize was held in Moscow, as well as the anniversary ceremony of awarding the winners of Reliable Organizations of Building Complex 2012 Program.

Ingosstrakh Insurance Company won the Prize as the “Leader in the market of civil liability and builders’ risks insurance” third year in succession.

As Director of Corporate Business Department of Ingosstrakh Insurance Company Vladimir Chernikov said, the win of Ingosstrakh Insurance Company of this Prize indicates appreciation and acknowledgement of the contribution of the company to the development of the liability insurance of the building SROs members and builders’ risks insurance. Ingosstrakh Insurance Company is the only Russian insurance company possessing more than 45 years of experience in the builders’ risks insurance (CAR/EAR). The insurer gained its first experience in CAR/EAR insurance yet in the late 60-ies of the last century during the construction of the Aswan Hydroelectric Power Plant in Egypt. Undoubtedly, the last two years were associated with the explosive growth of the insurance in construction primarily due to the liability insurance, he said. It should be mentioned that although the Town Planning Code does not bind the SROs members to insure their liability, almost all SROs have introduced the insurance system requirement for their members in order to protect the interests of the third parties. It could not but positively affect the development of voluntary insurance types in construction, noted Vladimir Chernikov.             

Russian Building Olympus Prize is a quality mark in the Russian construction industry and acknowledges high level of entrepreneurial culture, business activity, and operating efficiency of the laureates. The     Expert Board of the Prize annually awards the most deserving organizations of the construction sector, which have been recognized by the professional community by their operating efficiency.