SOGAZ will insure Severstal enterprises for 70 billion rubles

SOGAZ Insurance Group won the tender for the right to insure the property of the subsidiaries of PJSC Severstal: OJSC Severstal-Metiz, JSC REDAELLI SSM, CJSC Izhora Pipe Plant, LLC Sheksna Pipeline Plant, JSC Karelsky Okatysh , JSC "Olkon". The total scope of SOGAZ's responsibility will be about 70 billion rubles.

SOGAZ will insure production, mining and property complexes of enterprises, special equipment, railway and partly automobile transport for a period of one year. The property complexes will be insured against all risks, special equipment and rolling stock - from the named ones. In addition, some of the Severstal Group's businesses will be provided with insurance against production interruptions.

According to Nikolai Galushin, First Deputy Chairman of the Management Board of SOGAZ, SOGAZ has won the competition for the right to insure property of Severstal subsidiaries for the second year in a row. “We have managed to implement a program within which it is possible to centrally administer all insurance contracts of a number of Severstal subsidiaries, which undoubtedly increases the transparency and efficiency of insurance. The program takes into account the specifics of the activities of each enterprise of the group, and, due to the value of the property, significantly differs from the program for the main industrial enterprise of the group - the Cherepovets Metallurgical Plant, which is also insured by SOGAZ, ”said Nikolai Galushin.

The SOGAZ Insurance Group and Severstal are united by years of mutually beneficial cooperation. For five years, SOGAZ has been providing insurance coverage for the property and liability of the enterprise, as well as the life and health of the company's employees. SOGAZ also provides insurance coverage for the production and property complex of the Cherepovets Metallurgical Plant, which is part of the Severstal company. The corresponding insurance contract with liability of almost USD 18.9 billion was extended in April 2015.