OREANDA-NEWS. May 29, 2012. Ingosstrakh Insurance Company became the Partner of the second international forum “Big Chemistry”, which was held on May 17-18, 2012 in Ufa. The forum united the leading players of the oil and gas chemistry market and related industries, governmental officials, and leading experts. The event participants included over 100 companies and more than 10,000 guests and delegates.

The event was held under the auspices of the Government of the Republic of Bashkortostan, RB Ministry of Industry, RB Ministry of Economic Development and the Chamber of Trade and Industry.

The Forum business program covered the problems and prospects of development of the Russian and Bashkir oil and gas chemistry and related industrial hubs, and also marked the relevant tendencies of the world chemical market. The leading companies presented their investment projects until 2030. The suppliers of raw materials and equipment presented the latest developments and technologies, which are necessary for oil and gas processing and petrochemical complex.

The Corporate Business Department Director of Ingosstrakh Insurance Company, Vladimir Chernikov, took an active part in the Forum activities, presenting a report titled “Financial instruments of raising the efficiency of the chemical and petrochemical complex enterprises during investment projects implementation”. In his speech, he gave a detailed presentation of risks that appear during the implementation of investment projects in petrochemical and oil and gas industries, for which insurance mechanisms are applied, as well as about the risks management instruments.

Considering insurance as one of the main financial instruments to compensate the investment project participants expenses during realization of risks, Vladimir Chernikov described in detail the main kinds of insurance, relevant at different stages of investment project implementation, and justified the complex approach advantages for chemical industry enterprises insurance. As a conclusion of his speech, Vladimir Chernikov noted the main benefits of cooperation with Ingosstrakh Insurance Company in investment projects implementation, and brought the example of major losses in this industry settled by Ingosstrakh Insurance Company in 2008-2011.