The policies will cease to be valid at exactly 23:59 Moscow time on October 12 and will be disabled in sellers' personal accounts. Insured events that have occurred up to this point will be settled in full.
The program is being closed due to changes in the reinsurance market. Since October 1, the conditions for reinsurance of certain risks have changed significantly, and the available reinsurance capacity has decreased. This is what made it impossible to provide the necessary reinsurance protection under the sellers insurance program — this is the official position of Ozon and Ingosstrakh.
"They also touched upon the possibilities for providing the necessary reinsurance protection under the sellers insurance program," the companies said in a joint statement.
The program was the only one available to Ozon sellers. Her story is directly related to a series of drone attacks on logistics facilities in the marketplace: the first strike on a warehouse in the Samara region occurred on August 22, followed by targets in the Orenburg Region, Dagestan and Krasnodar Territory. According to Data Insight analysts on the morning of August 24, the total damage from attacks on Ozon warehouses amounted to 125-170 billion rubles: burnt goods — 89-107 billion rubles, restoration of warehouses with land reclamation — 36-62 billion rubles.
Ingosstrakh completed the first wave of payments on September 18: 8.2 billion rubles were transferred to approximately 90,000 sellers whose goods were damaged or lost. The money was sent directly to the settlement accounts indicated in the personal accounts, without additional statements from the sellers. The insurer called it one of the largest insurance settlement projects in the Russian market. The inventory at the logistics centers is almost completed by the time the program closes, and the remaining payments for cases already recorded will be made in the near future.
For comparison, Wildberries warehouses were attacked earlier — the first strikes occurred on the night of July 18 at facilities in Kotovsk and Elektrostal. Data Insight analysts estimated the damage to Wildberries products at 517-580 billion rubles, and the construction of new warehouses at 186-344 billion rubles.
Ozon stated that it will continue to explore alternative financial protection tools for sellers' goods in its warehouses, while all existing support measures remain in place. No specific products or partners were named. Sellers who place goods in the marketplace's warehouses will have to look for insurance coverage on their own starting from October 13, either through market programs if the reinsurance capacity allows, or to incorporate the risks of loss of goods into their own financial model.
Related materials:
- Ozon increased the FBO insurance rate to 0.0838% per day — a week before the program was closed, its rate was raised
- Ozon sellers received a 12—month tax deferral after drone attacks - what kind of support sellers have left without insurance
- The cost of protecting the warehouse from drones? How to do this in tax accounting — how to account for the cost of protecting a warehouse without a policy
