The Board of Directors of JSC RusHydro (ticker symbol: HYDR; MICEX, RTS and LSE) approved the following insurance companies to provide 2010 insurance coverage for RusHydro:
|
¹ |
Type of insurance |
Insurer |
|
1. |
Property insurance, including construction in progress, against all risks. |
JSC Capital Insurance |
|
2. |
Insurance for construction and assembly activity. |
AlfaStrakhovanie PLC |
|
3. |
Voluntary medical insurance and insurance against accidents and illnesses for all employees of the Company`s Executive structure. |
AlfaStrakhovanie PLC |
|
4. |
Voluntary medical insurance and insurance against accidents and illnesses for all employees of the Company`s branches. |
JSC ROSNO Insurance Company |
|
5. |
Civil liability insurance for organizations operating hazardous production facilities, as well as for the owners of hydro-technical constructions. |
JSC Capital Insurance |
|
6. |
Obligatory civil liability insurance for vehicle owners, insurance for automotive vehicles and vessel insurance. |
VSK Insurance House |
|
7. |
Liability insurance for the non-fulfillment or undue fulfillment of liabilities under a state contract for performing works and/or providing services. |
AlfaStrakhovanie PLC |
|
8. |
Civil liability insurance for members of the Company's management bodies and executives toward both third parties and the Company. |
AlfaStrakhovanie PLC |
The Resolution on this topic was adopted, at a meeting of the Company’s Board of Directors held in absentia, on November 13th, 2009.
In accordance with the Provision on RusHydro insurance coverage for the period till January 1st, 2010, which was approved by the Company’s Board of Directors on June 5th, 2007 (protocol ¹ 33), selecting insurance companies for RusHydro will be carried out on a competitive basis annually.
The Provision stipulates that organizing and conducting the respective competition shall be performed by JSC Insurance Agent Energozashyta, based on an agreement for the provision of these services. At the same time, selections will be approved by the Company’s Board of Directors.
Due to current insurance agreements being valid thru December 31st, 2009 and the process for planning 2010 expenses being started in September of the current year, within the framework of the current Provision for JSC Insurance Agent Energozashyta, in September of the current year an open, one-stage tender was conducted to conclude agreements on property and private insurance for JSC RusHydro, branches of JSC RusHydro, its subsidiaries and dependent companies (SDCs).
Five insurers submitted applications for the tender. As a result of the tender, the Company selected the insurance companies which were most capable of providing the most reliable and complete insurance protection to RusHydro.
In addition to the above issue, RusHydro’s Board of Directors prematurely terminated the powers of Tatyana Viktorovna Zlydareva, who was a member of the Board’s Strategy Committee. The Board elected Aleksandr Sergeevich Yugov, Head of the Department of Oil and Gas Industry and Mineral Resources Organizations at the Department for Infrastructure Branches and Organizations of the Military / Industrial Sector for the Federal Agency of State Property to serve on the Strategy Committee.
Tatyana Viktorovna Zlydareva, the representative from the Federal Agency of State Property on the Board’s Strategy Committee, moved to another position. Due to this, the Federal Agency of State Property offered a new candidate to serve on the Strategy Committee, Aleksandr Sergeevich Yugov, the Head of the Department of Oil and Gas Industry and Mineral Resources Organizations at the Department for Infrastructure Branches and Organizations of the Military / Industrial Sector for the Federal Agency of State Property.
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