With the Support ofNational Association of Agricultural Insurers (NAAI)National Association of Agricultural Insurers (NAAI) is a non-commercial professional association of Russian insurers providing state-supported crop and animal insurance. NAAI was formed in 2007 by a group of insurance companies to assist the promotion of modern agricultural insurance in Russian Federation. During 2007-2010, the association actively participated in the process of legal reform related to Russian national system of agricultural insurance, which resulted in the new Federal Law on State Support to Agricultural Insurance ¹260-FZ, entered into force in January 1, 2012. From this date onwards NAAI is acting as a professional insurance association authorized by the Low ¹260-FZ to implement state-supported insurance system for farmers. In 2012, NAAI established guarantee fund required by the law with the aim to protect the insured’s interests in the case of bankruptcy of any of its members. In 2013, NAAI comprises 24 insurance companies, with a total market share of state-supported crop insurance of 62% (calculated as share of premiums) and a share of 94% of the non-subsidized agricultural insurance market. Total authorised capital of NAAI companies in 2013 is about 70 bln rubles, equity capital – 150 bln rubles. Str. Sadovaya-Spasskaya, 21/1, Moscow, Russian Federation, 107217 |
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