Innogarant, an insurance company will provide only a partial reimbursement of Capital Tour’s customers’ expenses; what’s more, this compensation will not be paid any sooner than March 2011, TourBusiness portal reports.

According to the insurer’s PR Director Alexander Kremer, 1,020 sets of insurance payments applications had been accepted by the company from the tour operator’s customers by December 17, that is, a month after Capital Tours closed down.

Kremer says the Capital Tour’s case is yet unique to the Russian insurance market as it beats all the previous incidents in terms of the number of insurance payment applications. Under the existing legislation, if more than one customer applies for a compensation and the total amount of payments exceeds the limit set by the insurance agreement, payments can be distributed proportionally.

Innogarant has already announced that the 100 million ruble insurance the tour operator had is not enough to cover all the customer applications in full.