OREANDA-NEWS. October 30, 2009. SOGAZ Insurance Group has paid to OJSC Russian Railways (OJSC RZD) the second part of the insurance indemnity in the amount of RUR 226.9 million, reported the press-centre of SOGAZ.

Thus, SOGAZ has completely recovered OJSC RZD’s losses incurred as a consequence of the accident that happened on the railway bridge of the West-Siberian Railway (WSRW) over the Irtysh River in September, 2008. The first part of the insurance indemnity was paid by SOGAZ in December, 2008. The total sum paid by SOGAZ in connection with these losses amounted to 243.3 million roubles, which corresponds to 75% under the Coinsurance Agreement. The remaining 25% of these payments were covered by the other OJSC RZD’s insurer – OJSC ZHASO.

“We highly appreciate our productive relationship with Russian Railways, which has been among SOGAZ’s major corporate clients for more than four years,” says Vadim Yanov, the Chairman of the Management Board of SOGAZ Insurance Group. “The coinsurers have recovered the losses incurred by the West-Siberian Railway as soon as practicable in the circumstances of such serious accidents.”

The insured event occurred on September 28, 2008, when a Volkswagen Caravelle minibus collided with a freight train at a guarded crossing of the Cherlak-Irtyshkoye line of the WSRW’s Omsk Division. As a result of this accident, the bridge was damaged and 24 cars with coal fell into the Irtysh River. Now the bridge crossing has been fully reconstructed.

The losses were indemnified in accordance with the General Property Coinsurance Agreement signed between OJSC RZD and SOGAZ Insurance Group in October, 2005. SOGAZ’s limit of liability under this Agreement amounts to RUR 890 billion.

OJSC Russian Railways ranks among the world’s largest railway companies with annual railway passenger volume of 1.3 billion people and annual freight traffic volume of 1.3 billion tons. OJSC RZD is one of SOGAZ’s major corporate clients.