Opening Ceremony of the Exhibition: Yegor Vishnevsky

Welcoming speech by
Mr. E.V. Vishnevsky
Deputy General Director of the Ingosstrakh Insurance Company, at the opening ceremony of the exhibition

INSURANCE GUARANTEES THE SAFETY AND RELIABILITY OF ROAD TRANSPORT

Ladies and Gentlemen,

There are numerous definitions of the concept of "transport". One possible definition is that transport is a branch of industry that makes effective utilisation of space possible. This definition is especially true in the vast territories of countries such as Russia, China and the CIS states. The amount of space effectively utilised by the citizens and economies of our countries always depends on the effectiveness of the transport system.

There are also numerous definitions of the concept of "insurance". It is defined specifically as a method of protecting people's economic interests from potential losses. For transport enterprises, insurance not only represents reliability and effectiveness, but also the most readily available method of protection.

During the last five years, the transport industry has demonstrated steady economic growth. According to world statistics, the size and scope of transport, as well as the related demand for transport services, are directly dependent on the level of national economic development. It is a comforting fact that we are witnessing a significant increase in freight transportation from the Asian-Pacific region to European countries.

Russia's distinct geographical situation predetermines the strategy and policy of the Russian Federation and its economic development. With its unique geographical position and highly developed transport infrastructure, Russia possesses unique opportunities to contribute to international transit. The most important advantages Russia can offer foreign partners regarding transit routes include: favourable geographical location, reduced time of delivery, no requirement to attract huge investments for the development of existing transport corridors, and the extensive experience of Russian transport enterprises with regard to freight brokerage and freight forwarding. The three most frequently cited problems regarding Russia are: no guaranteed transit times, high transit fees and poor development of accompanying services. The long list of related services being actively developed, such as refuelling, communications, automotive repair and maintenance, et cetera, often has little or no connection with insurance services.

Nevertheless, insurance does indeed form an integral part of transport services. National insurance companies in "old" European countries have long constituted an integral element of transport operations. In the younger European and Baltic states, where most insurance companies are controlled by international insurers, the national companies are becoming more and more actively involved in transport and transit procedures - both as insurance organisations and as agencies controlling the passage of vehicles and freight within national borders.

Internationally recognised Russian insurers have exceptional opportunities in terms of Russian transit. The leading Russian insurance companies, including Ingosstrakh, with its developed network of branches and representative offices in Russia and other countries, are establishing partnerships with foreign insurers and freight owners, and have instilled confidence regarding safe delivery, as well as full and timely repayment of losses. We are convinced that, in the future, our cooperation with transport enterprises in Russia and other countries will be reinforced, and that insurance will become a common feature of everyday transport activity.

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