OREANDA-NEWS. April 12, 2010. Ingosstrakh has transferred 50,000,000 rubles to Engineering Corporation Transstroy as the first tranche of the indemnity to provide financing for clearing from the debris and reconstruction of the berthing facilities and coast-protecting structure that suffered badly owing to the storm unleashed on the night of December 14, 2009 at the cargo port of Sochi in the outlet of the Mzymta river.

The Insurer made the said payments to boost up the process of reconstructing the damaged objects of the sea port which is an extremely important infrastructure element for further construction of the Olympic facilities in Sochi.

The Ingosstrakh expert team and the average surveyor, Cunningham Lindsey (Russia), are now assessing the loss to determine the final value of the damage to determine the total amount of insurance indemnity.

The insurance indemnity is paid under the Ingosstrakh policy of insurance against construction and assembly risks and third-party liability insurance specifying the following items that are insured "against all risks" for the full value of 4,33 bln rubles: the berthing facilities, coast-protecting structure, utilities, etc. as well as new facilities built at the 2nd stage of the construction project for the Sochi cargo port and coast infrastructure in the outlet of the Mzymta river which will be redesigned afterwards for yachting area.