Oil company to be Insured

Tyumen Oil Company signed agreement with ROSNO company and AlfaInsurance Group on insurance of the property of all extracting and processing enterprises.
The agreement is signed for 1 year (from December 1, 2001 to November 30, 2002). The total insurance sum of the agreement is more than USD 7 billion. Risks of losses of movable and immovable property, risk of breakage of cars and equipment, as well as stoppage of the production activity will be covered under the agreement. The insurance tariff for complex insurance of property is on the level of mi 2001 proposals of insurance companies. Along with property insurance TOC enjoys ROSNO voluntary medical insurance services: 5,500 employees of the company were insured in 2001.
The head of the insurance department of Tyumen Oil Company Victor Prikhodko said that now TOC has no grounds to be afraid of unexpected losses, that in its turn reduces the level of financial risks both for the company itself and for investors.
The Deputy General Director of AlfaInsurance Tatiana Polonskaya stressed that a large scale, complex insurance program launched in the oil field of Russia.