RIC Initiates Plans to Become Major Insurance Provider.

Insurance of defence industry enterprises is a priority task of Russian Insurance Centre (RIC). Services provided to these enterprises are of complex nature, mirroring the specific character of defence industry along with the peculiarities of insurance risks evaluation.

RIC provides the insurance protection to the whole production phases of defence-related enterprises, starting from the moment of obtaining a loan up to the production, forwarding the goods to the consignees and guarantee insurance. It is to be noted, that the company has got a significant experience in cooperation with the Russian defence industry complex, in our experienced team there are defence industry experts, familiar with the specific character and peculiarities of the branch.

The RIC`s profound knowledge and experience in space risks insurance is the ground for the further active cooperation with Rosaviakosmos, Space Forces, RVSN (Strategic Rocket Forces) and many rocket-space industry enterprises. Financial stability of the company based on its own considerable reserves, proper and flexible reinsurance policy in Russian and foreign markets allows the company to insure the large-scale space risks.

Insurance protection is carried out taking into account the life cycle stages of the product, including development, manufacturing, transportation, pre-launch operations, placement of the useful loading into the orbit, its putting into operation and further operation.

Among these types of insurance coverage is the insurance of the first element of International Space Station (ISS)—functional cargo unit «Zarya», as well as «Telstar-6″ satellite and seven «Iridium» satellites, third parties liabilities insurance at launches operated by Rosaviakosmos, Space Forces, RVSN (Strategic Rocket Forces). The insurance agreement on the putting the functional cargo unit «Zarya» into the specified orbit, which is very risky type of insurance, was one of the first agreements within the framework of the Russian Federation space programme.

RIC has insured several space programs of different companies, such as Rosaviakosmos, NPO Energomash Open Joint-Stock Company named after VP Glushko, Research Centre named after G.N. Babakin, Research-and-production Association named after M.F. Reshetnev, Space Forces, RVSN (Strategic Rocket Forces), TsKB Progress, Russian Satellite Communications Company Federal State Unitary Enterprise, Loral, Hughes, AsiaSat, Lockheed Martin Telecommunications, Astrium and others.

Among medical partners of RIC are the treatment-prophylactic establishments of the Medical Center of the Administration of the President of the Russian Federation, respectable departmental and private polyclinics and hospitals, clinics at the profile medical science-research institutes, alternative to «Ambulance» services.

The company`s insurance protectioncovers aircrafts in case they are destroyed, missed or damaged due to the flight accident, at taxiing and parking, and also civil liability of the aircrafts` owners against damage caused to the third parties. RIC also insures shipbuilding, modernization and refurbishment risks of sea-going vessels and submarines under local and foreign orders. Also the insurance covers ship-owners` liability against damage caused to the third parties, as well as vessels` crews.

Today (Kuala Lumpur Malaysia)