Insurance coverage in RusHydro Group is based on the principles of standardizing the insurance protection system, optimizing insurance coverage, unity of approaches to organizing insurance, and continuity of insurance.
Aims of organizing insurance coverage
Choice of insurance companies
The choice of insurance companies is carried out on a competitive basis, taking into account the optimal ratio of price and quality of insurance services. Requirements for insurance coverage conditions are formed on the basis of an analysis of the current risk situation of the Company and analysis of insurance market proposals, social policy and legal requirements.
Types of insurance coverage
In 2019, insurance coverage of RusHydro and its subsidiaries was carried out for the following types of insurance:
The Company makes high demands regarding the insurance of its assets (property insurance against all risks and insurance of construction risks), and, in view of the limited resources of the insurance market in the Russian Federation, it puts forward additional requirements and monitors the reinsurance of its risks. RusHydro Group pursues a policy of openness towards representatives of the foreign insurance community: it annually conducts insurance engineering surveys of the Company's facilities, road shows and negotiations, and fulfills the recommendations of reinsurers.
The reliability of insurance coverage conditions, experience in insurance settlement and accumulated extensive friendly contacts with the global and Russian insurance markets help the Company successfully implement financial and risk management activities.