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Transportation of nuclear submarines insured

      RBC, 25.08.2006, Moscow 18:43:31.Ingosstrakh has insured the transportation of the out of commission Russian Northern Fleet nuclear submarines for EUR50m, the company's press office reports. The insured party is Dockwise, the company from the Netherlands which is transporting the submarines. They will be transported by sea by a platform ship within the water zones of the White and Barents Seas.

      The risk has been reinsured on the Russian insurance market and also among members of the Russian Nuclear Insurance Pool. The general policy has been signed for five years. The first three submarines are to be transported this year. A total of 30 out of commission submarines are to be transported.

      The total premium on direct insurance and the reinsured risks amounted to RUR30.9bn (approx. USD1.15bn) in 2005, the payments totaled RUR13.9bn (approx. USD518.8m).

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