OREANDA-NEWS. July 09, 2012. Ingosstrakh Insurance Company participated in the VIII annual conference "Commercial Real Estate Management" which was held in Moscow on June 25-26.

The conference brought together more than 100 market players including management companies, real estate owners, representatives of real estate development companies, investment and financial organizations, retail and distribution networks, consulting, evaluating and FMCG companies as well as real estate market experts.

The business program of the conference included the review of recent tendencies in the real estate market, pressing issues were raised and respective constructive solutions suggested.

Vladimir Chernikov, Head of Corporate Business Department of Ingosstrakh Insurance Company, presented the report at the conference on the following topic: "Insurance as an instrument for minimizing financial risks of real estate development companies." In his report he spoke about applicability of insurance as a risk management instrument in the real estate sector, and also about the types of insurance applicable at different stages of execution of development projects. He also turned the participants’ attention to the changes in the Town-Planning Code of the Russian Federation related to responsibility for damage inflicted by third parties during building operation.

Summarizing the event, Vladimir Chernikov particularly noted that, "The changes in industry legislation pertaining to third party damage make insurance an even more relevant instrument for real estate owners and tenants in present conditions as it allows them to protect their financial interests and minimize risks related to the operation of buildings and premises. Concerning the conference in general, it is undoubtedly a significant event for the real estate market, which gave the players the chance to get together and discuss a number of important problems, the solutions for which will bring along a more effective and qualitative development of the industry."