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Ingosstrakh Insures NSD’s Risks for US$65 Million

05 February 2016

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National Settlement Depository (NSD), Russia’s central securities depository, and Ingosstrakh OJSIC, one of Russia's leading insurers, have concluded a one-year complex insurance agreement. The policy liability limit has been set at US$65 million for all claims for the duration of the policy. Given the insurance cover scale, the main re-insurers behind the policy include Lloyd’s syndicates (UK) specialized in re-insurance of such risks.

The policy covers the company’s operations within the framework of NSD’s licenses of a professional securities market participant, including clearing and depository operations along with the banking license.

The insurance policy covers damage inflicted upon the policy-holder and third parties (including but not limited to NSD's clients) as a result of the third parties’ wilful activity, as well as a result of unintentional mistakes and errors made by the policy-holder’s employees and executives while carrying out their professional duties. In addition to this, the insurance policy covers damage inflicted by the company as a result of electronic and computer crimes, technical errors, computer or telecommunications failures led to the partial or full loss of information related to the clients’ accounts.

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By filling out this form and clicking the "Ask question" button, in accordance with paragraph 4 of Article 9 of Federal Law No. 152-FZ dated 27 July 2006 "On Personal Data", I give my consent to National Settlement Depository (NSD, address: 12 Spartakovskaya Street, 105066 Moscow, hereinafter referred to as the "Data Controller") to the processing (i.e., any operation(s) involving the use of automation tools, including collection, recording, arrangement, accumulation, storage, updating, retrieval, use, transfer (including cross-border transfer), depersonalization, blocking, deletion, and destruction) of the following personal data: full name, email address, employer (if any), job title (if any), and telephone number (if any), for the purposes of inquiries, telephone consultations, surveys, advertising or marketing researches (including those conducted by email), or mailings (including advertisements) (the "Service"), as well as the consent to the authorization by the Data Controller of further processing of that personal data by third parties for the purposes of providing the Service to me.

This consent is valid from the date of acceptance by me of the terms and conditions of the Service until the time when I cancel my subscription to the Service or revoke this consent by giving notice in writing to the Data Controller at its address.