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Allianz Ukraine Ins.Co. paid out over UAH 12 million for the damaged trading stock

12.5.2009
Allianz Ukraine Ins.Co. paid out the first part of insurance indemnity to PROFINE Logistic Ukraine LLC for the completely burnt trading stock of the company. Payout was UAH 12,492,178.31.

The burnt trading stock stored at the company’s warehouse with the area of 6,000 square meters was insured by Allianz Ukraine Ins.Co. under the property and business interruption insurance agreement. The fire was caused by violation of fire prevention rules at the time of welding performance by third persons.

Insurance coverage under the agreement provided for the following risks: fire, explosion, stroke of lightning, fall down of aircrafts, natural disasters, frost and snowfalls unusual for the region, revolts, lockouts, civil disorders, acoustic shock (shock wave), smoke effect, run of transport means, damage by water from sprinkler and drainage systems, distribution pipelines breakthrough, vandalism, illegal actions of third parties, theft with breaking in and robbery, volcanic eruption, land subsidence, soil displacement, landslide, business interruption of the insured.

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