OREANDA-NEWS. November 8, 2012. Ingosstrakh Insurance Company paid insurance indemnity in the amount of over RUB 138.5 m for the total loss of BELL-407 helicopter owned by an individual.

Bell-407 helicopter was insured by Ingosstrakh Insurance Company against all hull insurance risks. On March 22, 2012, the helicopter approaching the land at Podnovie helicopter site (Nizhny Novgorod) clashed against a power line and fell down to an ice hole in the Volga River. It drifted 150 m from the impact location along the river flow and sank in water.

The investigation of the accident was commissioned by the Interstate Aviation Committee (IAC) and independent surveyors employed by Ingosstrakh Insurance Company.

According to resolution of IAC and independent surveyors, the accident was caused by collision with a power line cable, information on which failed in the published aeronautical information documents; the pilot most probably did not manage to identify the power line cables against a fuzzy background of a snow-covered river and cloudy conditions when trying to land.

The accident caused a complete failure of the helicopter; the damages were classified as total loss. The event was recognized a loss event, and Ingosstrakh Insurance Company paid an insurance indemnity in the amount of RUB 138.5 m under the insurance agreement.

According to Vadim Semenkov, Head of the Department for Insurance Special Risk Losses Settlement of Ingosstrakh Insurance Company, for the 9 months of 2012 the payment amount of Ingosstrakh Insurance Company for insurance and reinsurance indemnities under small aircraft hull and liability insurance has exceeded RUB 216 m including over RUB 192 m under agreements on hull insurance and reinsurance of helicopters operated in the Russian Federation. Mr. Semenkov explained that small aircraft insurance losses in Russia are peculiar for great insurance indemnity amounts as it is necessary to repair damaged units and order spare parts abroad to replace the damaged ones, which dramatically increases the repair costs taking customs fees and payments into account. Mr. Semenkov added that small aircraft insurance as an aviation risk insurance sector is characterized by a great number of shock losses which are generally settled by Ingosstrakh Insurance Company immediately upon completion of the aircraft accident causes investigation.