OREANDA-NEWS. Ingosstrakh Insurance Company paid an insurance indemnity amounting to USD 1.9 mln due to a damage of the cargo on board of Atlantic Navigator motor ship in the Port of Durban (RSA).

The responsibility of Atlantic Navigator motor ship owner was insured by Ingosstrakh Insurance Company. Among other risks, the police provides for the police holder's property interests protection in case of a cargo damage caused during transportation.

The incident took place on September 7, 2008, in the Port of Durban, when unloading malt that belonged to the largest brewing company of RSA. According to the unloading results, a claim in the amount of USD 4.5 was lodged with the ship owner due to the malt damage caused during the transportation.

For protection of the ship owner's interests, Ingosstrakh Insurance Company involved the insurer's correspondent in RSA, as well as ship surveyors and lawyers. The insurance company quickly prepared and provided the ship owner with a letter of indemnity in compensation of the ship owner's commitments, which enabled to avoid the vessel's demurrage. Owing to active involvement of correspondents and lawyers assigned by Ingosstrakh Insurance Company, the cargo owner's claims were settled means of the friendly settlement, and Ingosstrakh Insurance Company paid an insurance indemnity in the amount of USD 1.9 to the claimer.

“In some cases, at a policy holder's request, we disburse payments directly to the third parties when settling a claim,” says Ruslan Dergunov, Ingosstrakh's Head of Ship Owners Insurance Claims Settlement Department. “It lets ship owners avoid withdrawal of their funds from shipping company circulation, which is particularly important when having a truly significant insurance event.”

Ingosstrakh Insurance Company has been dealing with marine insurance since 1947 and ranks among the global insurers which offer their customers a full line of marine insurance programs: comprehensive vessel insurance, liability insurance for ship owners and shippers, and also human rights insurance. In the beginning of 2014, Ingosstrakh Insurance Company increased the coverage limit of liability insurance for ship owners (P&I) up to USD 1 bln, which enabled the company to take the first place in Russia by this indicator and become the second company on the world market of commercial insurers, to be able to provide such coverage.