Claims handling in Russia


Claims handling in Russia

In June, Swiss reinsurance broker Reunion AG held its third roundtable discussion in Montreux, Switzerland, discussing the coverage of engineering and construction risks in Russia. What follows is a snapshot of a part of the discussion focused on claims handling and communication.

Igor Prandetsky, director of Reunion AG, was clear on the importance of this topic from the outset: without a professional claims handling process, there can be no insurance and reinsurance in Russia, he said.

Evgeny Malachinskiy, country manager for Russia for Cunningham Lindsey, gave a presentation in which he reviewed the practices in the loss handling and settlement process in construction in Russia.

He spoke specifically about a very big loss at an electric substation located in Moscow. During the course of high-voltage testing, one of the transformers caught on fire causing significant damage to the building and the substation. The eventual loss was around €62 million.

Claims Handling, Russia, Reinsurance, Reunion AG, Igor Prandetsky, Evgeny Malachinskiy

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