OREANDA-NEWS. May 21, 2012. Ingosstrakh Insurance Company has paid 164 mln rubles to the Siberian Agrarian Holding Group of Companies (SAHO) due to destruction of agricultural crops at the fields of Tula and Ulyanovsk Regions.

Yields of summer and winter wheat, summer barley and pea in Kurkinsky, Teplo-Ogarevsky, Kamensky, Uzlovsky and Chernsky Districts of Tula Region, in Karsunsky, Bazarnosyzgansky, Veshkaymsky, Inzensky and Starokulatsky Districts of Ulyanovsk Region were insured in 2011.

The insured event was partial destruction of agricultural crops caused by a number of natural hazards – soil draught and saturation taking place in the area in summer and beginning of autumn 2011. During loss adjustment, major efforts were made to determine the causes, circumstances and extent of the damage – expert examination of the affected area under crops in five districts of Tula Region was held; and accounting, analytical and statistical reports of the insured party were studied. Several independent expert opinions were required to determine the damage extent. Upon completion of all necessary loss adjustment procedures, the event was recognized insured, and Ingosstrakh Insurance Company paid the insurance indemnity to the agricultural enterprise pursuant to the provisions of the insurance agreement.

Commenting on the payment made, Vladimir Chernikov, Director of Corporate Business Department of Ingosstrakh Insurance Company, pointed out that the insurance indemnity was paid during mass field works meaning that it would help the agricultural holding arrange a full-scale sowing campaign and guarantee a fair yield this year. “Social and economic significance of agricultural development of the Russian Federation and partnership are among the top-priority factors defining our strategy on this market. Ingosstrakh Insurance Company and the Siberian Agrarian Holding Group of Companies have been successfully collaborating in agricultural insurance for five years already. At different times, our company has underwritten insurance for yields, agricultural machinery and equipment, buildings and structures, carrier vehicles and land property of the Siberian Agrarian Holding Group of Companies.”

Siberian Agrarian Holding Group of Companies (SAHO) is one of the leaders of the Russian agro-industrial sector for its growth rate. Every year, the company succeeds in even greater recognition on the domestic and foreign markets. The SAHO companies successfully operate in all the major agro-industrial sectors, producing and processing grain, baking and selling bread.