OREANDA-NEWS. September 18, 2012. Ingosstrakh Insurance Company became general partner of the round-table discussion “Insurance of Construction and Installation Risks in Russia”, organized by Expert RA rating agency, held on September 13 in Moscow, in Baltschug Kempinski Hotel.

The round-table discussion is aimed at analyzing the situation in the insurance market in the sphere of construction and elaborating the mechanisms of competitive development of construction and installation risks insurance market both in public and private sectors. In recent years, this insurance segment was mainly developed at the expense of large-scale state investments in construction. Today, there is a task to stimulate private business to insure construction and installation risks and develop liability insurance.

In the course of the event, the most acute problems of the industry were discussed, namely, ways of improving culture of insurance in the sphere of construction, stimuli to insure liability of construction organizations, prospects of introducing mandatory insurance in the sphere of construction, and many others.

The round-table discussion participants included representatives of insurance companies, builders’ SRO, All-Russian Union of Insurers and Federal Financial Markets Service.

Milan Dinets, Deputy Director of Corporate Business Department, Head of Industrial Insurance Division of Ingosstrakh Insurance Company, took part in the round-table discussion. According to him, the volume of the construction and installation insurance market has considerably increased over the last year. However, it is not worth expecting such a high pace of growth in 2012–2013 as the effect from market recovery after the crisis will be over, and further slowdown in the growth of the Russian economy will also influence the construction industry. Milan Dinets also commented on the tendency for growth in concentration in the construction and installation insurance market – increasing share of Top 10 insurers of construction and installation works.