Ingosstrakh has become Russia’s first insurance company accredited in India.
The Indian government put Ingosstrakh on the list of insurance companies that are allowed to conduct operations in the republic. This permit expires in five years and can be further extended, representatives of the Russian company said on Thursday.
This accreditation allows ships that obtain insurance in Ingosstrakh easily enter India’s ports. It is especially important soon after India adopted in April 2012 a law banning commercial ships to call at the republic’s ports without insurance coverage for shipowners’ responsibilities.
Under the law ports can receive only ships that have insurance from members of the International Group of Protection and Indemnity Clubs or other insurance companies permitted to operate in India.
Ingosstrakh has been working on the Russian and global market since 1947. It is Russia’s leader in insurance contributions and enjoys the right to conduct all types of insurance operations. Ingosstrakh has its offices and subsidiaries in CIS and non-CIS countries.
NEW DELHI, April 4 (Itar-Tass)