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Press Release

Ingosstrakh Insurance Company has Paid over USD 219,000 in Connection with Damage to the Equipment on the Nor Cape Reefer

Ingosstrakh Insurance Company paid over USD 219,000 in insurance compensation in connection with the damage to the auxiliary boiler on the Nor Cape reefer.

The Nor Cape motor vessel has been insured by Ingosstrakh Insurance Company since 2012 in accordance with the hull insurance program for marine vessels with liability for damage and total loss, including war risks and loss of freight risk. The territory of operation of the vessel includes the Baltic, North, Norwegian and Irish Seas, the Bay of Biscay, and West Africa.

The incident occurred on May 21, 2014. While the ship was in the port of Port Harcourt for unloading its cargo of frozen foods, the auxiliary boiler was found to be leaking. After holding a tender, the owners of the vessel made a decision to purchase a new boiler. The faulty boiler was dismantled and the new one was installed in the port of Las Palmas (Canary Islands), while a surveyor appointed by Ingosstrakh Insurance Company inspected the damage. It was recognized that the failure of the auxiliary boiler was caused by the wrong actions of machine team members during its operation.

After the completion of the necessary expert examination, the case was recognized as an insured event, the costs of the owner of Nor Cape vessel related to the repairs of the ship, as well as the costs related to the loss of freight due to emergency repairs, were settled by Ingosstrakh Insurance Company pursuant to the insurance contract.


2015-04-20

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Ingosstrakh Insurance Company
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