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„Seesam Latvia” offers a special complex insurance package to farmers

A new, complex and particularly advantageous insurance package containing machinery all risk insurance and machinery operator accident insurance is being offered by JSIC „Seesam Latvia” to owners of agricultural machinery just now. During the action period till August 31, this package is supplemented with an additional bonus – MTPL one-year insurance of all kind trailers just for 1 LVL as well as insurance of trailed and hanging equipment without any additional payment. The new insurance package has been developed taking into account the most possible risks of damage to the agricultural machinery and its service personnel.

The offer includes „all risk” insurance. It means that the loss associated with agricultural machinery will be compensated if it has been caused by a sudden external damage, such as losses incurred due to fire, natural disaster, theft or vandalism. This insurance will also compensate loss caused by overturning of the machine, collision with another object, sinking, or even by other reasons. It is important that this insurance coverage of machinery throughout the territory of Latvia will be in force not only during the time when the machinery is used in specific agricultural activities but also when it is transported on trailers as well as when participating in road traffic as a road user.

This type of insurance can be useful to individuals, farms or any other company possessing or using the agricultural machinery and / or other specialized equipment. This proposal may be particularly important to customers possessing or using several units of machinery.

If you have chosen the insurance of agricultural machinery offered by “Seesam Latvia”, also the operator of the machinery will be insured against accidents without any additional charge – the person operating this machinery will be insured against a number of risks during the operation. Fixed insurance amounts shall be applicable to those risks:

• in the case of death – 4000 LVL;
• in the case of disability – 400 LVL;
• in the case of bone fracture/injury – 2000 LVL.

In the case of insurance of a tractor, combine harvester or other mechanically propelled vehicle, “Seesam Latvia” recommends to insure, at the customer’s choice and without any additional charge, also trailed and hanging equipment of the specific agricultural machinery, such as ploughs, cultivators, sprayers, fertilizer spreaders, daily-use trailers, harrows, rakes, roll wrappers, of value up to LVL 10 000.

If you have bought an insurance policy of this type for a tractor, then you have to pay only 1 LVL for a one-year mandatory third party liability (MTPL) policy for a trailer of this tractor.

Upon conclusion of an insurance contract, a flexible time schedule of payment for the policy may be set, without any extra payment for the policy, so that the amount to be paid will be divided into two or four instalments. If you pay for the policy by one payment, “Seesam Latvia” will apply a 10% discount.

Up to late autumn when the harvest time comes to end, agricultural machinery will be operated in a wide variety of jobs. Then it is most exposed to various risks. And it is not possible to predict the moment when an accident may occur.

...In the spring of 2009 in Lēdurga Civil Parish, a large shed with mineral fertilizers and agricultural machinery burned down. The fire was caused by an electrical short circuit or careless handling of fire. The owner had calculated his loss to be around 100 000 LVL. Since the property was insured, it was possible to compensate the loss.

...In the beginning of December 2009, a fire broke out in the Farm “Pīlādži” (DurbeMunicipality), and in the result of this fire two „Valtra Valmet” manufactured in Finland burned down. Also in this case the loss incurred by the owner amounted to approximately 100 000 LVL. Both tractors were purchased in leasing but one of them was already redeemed. Only one of those tractors, which was not redeemed yet, was insured. And the insurer compensated the loss incurred for this tractor. But the loss caused by destruction of the other tractor was completely borne by the owner himself.

Of course, the owner must take care also of the insured machinery to minimize as much as possible potential losses or reduce their size. This means that machinery operation and safety instructions must be observed, without exposing the machinery intentionally to diverse risks. But if an accident happens with the insured equipment or the operator thereof, the insurer shall compensate for loss incurred.

About JSIC “Seesam Latvia”

„OP – Pohjola Group”, which is the shareholder and owner of JSIC „ Seesam Latvia”, is one of the largest and leading financial and insurance groups in Finland. Pohjola Insurance Ltd, a non-life insurance company which is owned by „OP – Pohjola Group”, was founded in 1891, and it is both the oldest and by its 27% market share also the largest insurance company in Finland.

The long-term safety rating conferred to Pohjola Insurance Ltd by the international rating agency Standard & Poor’s is A+ (strong).

Additional information:

Dace Gertnere

Head of PR and Marketing Department

JSIC "Seesam Latvia"

PR and Marketing Department

Vienības gatve 87H, Riga, LV-1004, Latvia

Tel. No. +371 67 06 10 29

Fax No. +371 67 06 10 22

dace.gertnere(a)seesam.lv, http://www.seesam.lv