Property risks, liability to third parties, voluntary insurance
Russian Railways insures property risks at the reputable insurance companies and market leaders. These risks include damage to its rolling stock and infrastructure as a result of terrorist attacks.
Russian Railways insures:
- movable and immovable property;
- traction, passenger and freight rolling stock;
- electric trains;
- official vehicles;
- special equipment and technology;
- civil liability;
- Company employees.
Centralised Property Insurance
Russian Railways regularly concludes centralised insurance policies for real estate, traction, passenger and freight rolling stock, special equipment and machinery. The total number of objects, currently covered by these policies, exceeds 550,000. The total value of the coverage is more than 6 trillion roubles.
As part of the ongoing work to improve its insurance terms, and to ensure the highest level of coverage, 56 major and strategically important infrastructure facilities, including of bridges, tunnels and buildings were selected by the Company from the total number of insurable property objects. Respective risk was transferred to the international reinsurance market with an increased coverage option.
Insurance of Official Vehicles Owned by Our Subsidiaries
In order to improve its insurance system, the Company has developed and implemented a single corporate insurance concept which determines the general principles of insurance, which is also applied to the subsidiaries and associated companies.
Liability before Third Parties
Vehicle Insurance at Subsidiaries (Compulsory Civil Liability Motor-Vehicle Insurance)
Compulsory third party motor insurance is provided by branches of Russian Railways in accordance with Russian Federal Law No. 40-FZ "On The Compulsory Insurance for Civil Liability of Vehicle Owners" dated 25 April 2002.
Liability insurance covering affiliates for damage caused as a result of accidents at hazardous facilities and dangerous installations
Insurance coverage of these risks is stipulated by the Federal Law "On the Compulsory Insurance of Civil Liability of the Owner of Hazardous Facilities and Dangerous Installations for Causing Damage as a Result of an Accident at a Hazardous Facility or Dangerous Installation No. 225-FZ" dated 27 July 2010. In accordance with this Law, the existence of an insurance policy is a mandatory condition for operating hazardous facilities and dangerous installations.
Civil Liability Insurance as Infrastructure Owner and Carrier
Russian Railways insures its civil responsibility as an infrastructure owner and carrier for any harm, that may be incurred to the life, health and property of third persons, as well as to the environment.
Voluntary Health Insurance
Russian Railways employees are provided with voluntary medical insurance policies that allow them to receive guaranteed high-class medical care at clinics equipped with modern medical equipment and laboratories and staffed by professional medical specialists and doctors.
Voluntary Employee Insurance Against Occupational Accidents and Diseases
An additional tool for managing risk and improving social protection of Russian Railways employees is their insurance against accidents and diseases. Corporate insurance against accidents helps to protect the financial interests of employees in the case of permanent or temporary loss of income due to accident or illness.