OREANDA-NEWS. Ingosstrakh Insurance Company has renewed its outward reinsurance contracts that form the program for the protection of "military" risks related to the aviation insurance against damage and theft air carrier liability insurance.

Under the terms of the contracts, compensation is provided for losses caused by war, strikes, civil unrest, acts of terrorism, malicious acts and sabotage, confiscation, requisition, nationalization, seizure or hijacking of aircraft.

The program provides broad coverage in combination with high limits of the contracts:

- For reinsurance of the "military" risks covered by aircraft hull insurance - USD 60 m for each case / insured object;

- For reinsurance of the "military" risks covered by liability insurance - up to USD 1 bn for each on each case / insured object and in total per year.

The leaders of the contracts renewed by Ingosstrakh Insurance Company are Atrium and Aspen, leading international insurance and reinsurance companies, and other participants in the program include foreign insurance companies and Lloyd's syndicates.

In the process of renewal of reinsurance contracts, Ingosstrakh Insurance Company, despite the fact that the work with the reinsurers was conducted in a challenging environment, managed to maintain and in some cases enhance the most important indicators of its reinsurance protection that will ensure the company's significant competitive advantage in 2015.