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2009 December 24   08:39

Court nullifies the insurance contract between Nakhodka seaport and Military Insurance Company

The Arbitration Court of Primorsky Territory ruled it found the property insurance contract concluded between OJSC "Nakhodka Commercial Sea Port (NCSP) and LLC Military Insurance Company null and void. According to the report of the Office of the Federal Antimonopoly Service for Primorsky Territory, which filed an action, it found the port’s authorities violated part 1st of article 18th  of the Act of 26th of July, 2006 N 135-FZ, signing a insurance contract with MIC  without an open tender for selection of organizations providing insurance services.
Nakhodka port authorities contested the claim, saying they did not violated as charged due to the fact the port operates not as natural monopoly, though failed to provide the evidence the company was not listed in the Register of natural monopolies on the market of transportation services. The court, having considered all the materials of the case, ruled the contract null and void.
Nakhodka Commercial Sea Port JSC is the major stevedoring company at the port of Nakhodka. The port is part of Evraz Group and is the point of seaborne shipment of products produced by the Group's subsidiaries to Asia. Port throughput in 2008 totaled 15.2 million tons.
MIC Insurance House has been working on Russia's market since 1992, offering currently over 100 modern services and is among the leaders of all major types of insurance services.

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