OREANDA-NEWS. October 26, 2012. Ingosstrakh Insurance Company has paid RUB 3 m due to the damage of the spring wheat yield owned by Ordynskoye Ltd. The enterprise is located in Novosibirsk Region and is focused on grain crop production.

The future spring wheat harvest within the area of 500 ha was insured against the following risks: hail, atmospheric and soil drought, frost, early appearance or formation of snow cover, hurricane wind (hurricane), water saturation of the soil, fire, plant diseases, and crop infestation.

The insurance event is soil drought in Ordynsky District of Novosibirsk Region in June-July 2012, which resulted in the reduction of spring wheat yields. A special expertise with the assessment of the crops' biological yielding capacity was needed in order to determine the amount of loss. According to its results, the incident was recognized to be aninsured event, and Ingosstrakh Insurance Company paid the indemnity in full to the insured person.