OREANDA-NEWS. Ingosstrakh Insurance Company Branch in Sochi executed civil liability insurance contracts for over 40 hospitality facilities in the city of Sochi. The total amount insured under the contract is over RUB 60 m.

Insurance coverage is provided for the property interests of the policy holder related to the liability to compensate the damage to life, health and property of the third party, including the staff, the clients and visitors of hotel facilities.

During the time of the 22nd Olympic and 11th Paralympic Winter Games 2014 in Sochi, civil liability insurance will become paramount, as due to the full booking of the hotels and a large number of foreign visitors, any contingency situation can result in large-scale financial loss for the owner of the hotel. It is also possible that a foreigner who suffered a loss files a claim upon returning to his/her country, which will result in further growth of costs involved in the settlement of claims filed in a foreign jurisdiction. An insurance policy issued by Ingosstrakh Insurance Company will provide secure protection in such cases.