IIC Euro-Policy paid the insurance indemnity of more than RUB 58 bln.

The fire occurred at the warehouse in Ochakovo, Moscow in November 2013. The event was considered as the insured one. LABB LLC, the independent expert organization, calculated the loss amount and the salvage materials cost. As a result, the amount of indemnification by the Insurer to the Beneficiary, CB Intercommerz Bank, under the Policy totaled RUB 58,3 bln.

The insured property was reinsured in the Western Market under the obligatory reinsurance contract for the amount of USD 50 bln per event. IIC Euro-Policy effected payment on their own account in order to quicken the adjusting process without waiting for the compensation by colleagues-reinsurers.