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Recent dam tragedy underscores the need for dangerous objects insurance law

Dam Accident Lessons

Heeding the lessons from the accident in Russia’s largest that killed over 70 lives and inflicted huge damage on the plant in August, authorities have started to realize policies directed at eradication of the reasons that led to the catastrophe and its terrible consequences.

One of the components of this policy was sounded in September by Emergency Situations Minister Sergei Shoigu, when he called for the acceleration of the adoption of a law on insuring potentially dangerous industrial objects and their liabilities to third parties.

Feeding a question on the necessity for the state to work more rigidly with the owners of such objects so that they insure their assets more adequately that the insurance cover for the destroyed dam, the minister answered in the affirmative. “It is necessary to do so, at least, for people, who live near and/or work on these objects.” The bill has only passed the first of four required readings in the State Duma.