OREANDA-NEWS. September 17, 2013. IC Allianz has concluded a large combined insurance contract covering the mortgage loan received by the borrower from a large federal-scale bank to purchase an apartment in the Aquamarine Residential Complex in downtown Moscow.

The contract includes property insurance, insurance coverage of the borrower against accidents and sickness and title insurance (insurance coverage of the risk of loss of ownership title to a real estate object).

The concluded contract covers the risk of constructive loss of or damage to the property due to fire, gas explosion, lightning stroke, aircraft impact, illegal third-party actions, flood, natural disasters, and collision with transport vehicles.

The insurant has also been covered by insurance protection against the risks of death, disability due to accident or natural reasons, and the risk of loss of ownership title to the real estate object due to the reasons beyond the owner’s control, such loss being subject to confirmation by the valid and effective court decision.

The aggregate contractual insurance amount is 35.53 mln roubles.

In case of an insured accident, IC Allianz assumes obligation to repay the borrower’s debt to the bank.