OREANDA-NEWS. Ingosstrakh Insurance Company branch in Arkhangelsk concluded agreement on compulsory third-party liability insurance of hazardous facility owner for infliction of damage due to accident hazardous facility with Gorvodokanal Municipal Enterprise based in Kotlas city of Arkhangelskaya oblast, with the liability for the six hazardous facilities of the enterprise limited to RUB 105 m.

As stipulated by the agreement, the insurance covers facilities, which pursuant to applicable laws fall under the hazardous category. The insurance program allows indemnifying damage to life, health or property of third parties, including personnel of enterprise, due to an accident at a hazardous facility. According to the applicable laws, the limit of indemnification of damage to life and health of each victim is up to RUB 2 m.

Agreements with Gorvodokanal Municipal Enterprise were concluded following public tender, in which, beside Ingosstrakh Insurance Company, six federal insurance companies took part.

Obligation of hazardous facility owners to insure their third-party liability is regulated by the federal law (No.225 dated 7/27/2010). New rules for compulsory hazardous facility insurance are effective as of January 1, 2012 for commercial enterprises and as of January 1, 2013 for governmental organizations.

A member of the National Association of Liability Insurers, Ingosstrakh Insurance Company has 14-years’ experience of civil liability insurance of organizations operating hazardous production facilities in accordance with the existing legislation. During the first year since the Federal Law No.225 dated 7/27/2010 came into force, Ingosstrakh Insurance Company insured 17 thousand hazardous facilities, providing policy holders with reliable protection against contingent expenses in case of a production site accident