Ingosstrakh Paid over RUR 14 mln under Liability Insurance Contract
OREANDA-NEWS. November 18, 2010. Ingosstrakh paid insurance indemnity of 14 million rubles under the manufacturer liability insurance policy to one of the herbicide manufacturers.
The insured event was damage inflicted to herbicide consumers due to insufficient rainfall and errors in fertilizer application instructions. The consumers were not fully informed about all peculiarities of application thereof and because of that sugar beet and sunflower crops were planted on the fields previously treated with the insured product and sprouts were damaged by residual herbicides. After several soil examinations the event was recognized as an insured event.
As agreed by the parties the herbicides manufacturer indemnified the consumers for the inflicted damage and Ingosstrakh paid the insurance indemnity to the manufacturer in accordance with the terms of the insurance contract.
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