OREANDA-NEWS. Based on the results of the open competitive tender SOGAZ insurance group will sign the obligatory liability insurance agreement in respect to launch of intercontinental ballistic missile for the purposes of the Ministry of Defence. Total amount insured for two launches is 4.8 billion RUB.

"Coverage is applied in case of damage to property, personal injury inflicted by the ballistic missile, its parts of fragments on land, see, in air or cosmic space including ballistic range and scheduled impact area," vice-president, director of advanced projects insurance at SOGAZ, Yuriy Shevchenko reported. - "Coverage commences from the moment the ballistic missile detaches from the launcher and in case the launch was successful coverage terminates after 30 days and in case of emergency start - after 365 days."

Insurance agreement will be valid in 2015-2016. Risks are reinsured on the Russian and international markets. Two insurers participated in the competitive tender.