OREANDA-NEWS. December 27, 2010. The non-bank credit institution National Settlement Depositary Closed Joint Stock Company (hereinafter – NSD CJSC, the insurant) and Ingosstrakh Open Joint Stock Insurance Company (hereinafter – Ingosstrakh) have entered into a comprehensive insurance contract providing coverage against crimes and the professional civil liability of NSD CJSC. The sum insured is USD 50 million for each and all the insured events occurring during the effective period of the policy. With NSD CJSC’s own funds taken into account, the total financial coverage for the obligations of NSD CJSC is over USD 303 million as of December 1, 2010. The insurance contract has been reinsured in the international market.

The policy insures the activities of NSD CJSC covered by its licenses of a professional participant of the securities market as well as to carry out banking operations and operations with incorporation documents and agreements.

The insurance coverage extends to losses incurred by the insurant and third parties (which include but are not limited to the customers of NSD CJSC) as a result of deliberate malicious actions of third parties or employees of the insurant, including cyber crimes, operations with counterfeit documents, securities and money. In addition to that the policy also covers errors and negligence by managers and employees of the insurant during the performance of their duties.