The Supreme Commercial Court Brings to an End the Dispute for the Amount Exceeding 1 Billion Roubles, Between Allianz and Swiss Infrassure on an Accident at the Sayano–Shushenskaya Plant
On December 11, 2012, under the ruling of the Supreme Commercial Court of the Russian Federation, Swiss reinsurer Infrassure was denied to have the case transferred to the Presidium of the Supreme Commercial Court of the Russian Federation.
Therefore, the highest judicial instance ended the multi-year insurance dispute concerning the reinsurance compensation following an accident at the Sayano-Shushenskaya Electric Power Plant caused by technology failure (total claim is exceeding 1.1 billion roubles).
The project was led by the partners of the Firm Ilya Ischuk, Konstantin Astafiev and Andrey Korelskiy.
We, of course, remember that as a result of the accident at the Sayano-Shushenskaya Electric Power Plant on August 17, 2009 three hydroelectric generators were destroyed and remaining seven hydroelectric generators at the station were damaged. On February 9, 2010 ROSNO insurance company (Allianz) which had insured the equipment at the plant (maximum amount of the insurable loss to be paid out including unconditional deductible was the rouble equivalent of approximately $200 million) recognized the incident as an insurable event and paid the insurance compensation in full.
Allianz is one of the largest financial and insurance companies in the world, which for more than 120 years has provided reliable insurance protection to millions of its customers around the globe.