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Ingosstrakh Effected USD 2 Mln. Hull Insurance for “Frost Olympus” in Petropavlovsk-Kamchatski

March 04, 2010

The Petropavlovsk-Kamchatski branch of Ingosstrakh Insurance Company entered into an agreement with the East Line Reefer Shipping Company, OOO, and effected hull insurance for “Frost Olympus” constructed in 1980. As reported by the press-service of the insurance company, the total sum insured is USD 2 mln. The insurance object are a ship hull, engines and equipment. The agreement also comprises liability for total loss and damage.

The Petropavlovsk-Kamchatski branch of Ingosstrakh Insurance Company and East Line Reefer Shipping Company, OOO, have been cooperating in the area of insurance of sea vessels and ship-owners’ liability since 2006.

The East Line Reefer Shipping Company was organized in February, 2005, to perform regular transit of frozen fish production from Petropavlovsk-Kamchatski port and fishing grounds adjacent to the Kamchatka peninsula to ports Vladivostok, Pusan, Chinese and Japan ports. Another objective of the company implies development of other sectors of the sea commercial shipping, such as vehicle, refrigerated and other general cargo shipment to Kamchatka from ports above, including vehicle transportation from Japan ports Niigata and Abasiri. The company owns reefer transport ship “Frost Olympus” with DWT of 4392 tons.

Ingosstrakh Insurance Company has operated in the domestic and international markets since 1947. The company is the leader among Russian insurance companies by premium amount for voluntary insurance other than life assurance. The company is present in 220 Russian cities and towns. Its representative offices and subsidiaries operate in CIS (excluding Russia) and non-CIS countries.

Source: PortNews

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