OREANDA-NEWS. December 22, 2010. Ingosstrakh has paid out RUR 1.3 million to an Altai based agricultural company after a fire in a cattle barn.

Under the insurance contract the cattle barn with a total floor area of 1,417.70 square metres was insured for RUR 3.7 million.

The barn burned down in a fire that broke out as a result of a violation of fire safety rules. Several examinations had to be carried out to determine the amount of damages. Based on the findings of the examinations the fire was recognised as an insured event and Ingosstrakh paid the company full compensation for the damages caused by the fire.

The insured property is pledged as collateral to the Altai regional branch of Rosselkhozbank OJSC for a loan provided to the agricultural company.