Larysa Nepochatova, President of BUSIN JSIC and Ivan Ovchynnikov, Head of Reinsurance Department gave a presentation of the risk-management programme for one of the leading companies of the Ukrainian air transportation market - AEROSVIT Airlines. The practical experience of the world-leading airlines and implementing of the risk management system implementation were discussed during the presentation and this risk management system can be used by any airlines.

Larysa Nepochatova, President of BUSIN JSIC was awarded a "Leaders Guard" Diploma from Ukrainian Rating Program for personal contribution to the development of the company and development of Ukraine's managerial system.

On 5^th September, 2006 there was a meeting of the Bankers Club, The potential problems of banking and insurance cooperation were discussed. BUSIN JSIC organised the meeting.

Advantages and disadvantages of the most popular models for cooperation of banks and insurance companies were considered during the meeting. It was decided that existing models of cooperation do not satisfy both parties. That is why BUSIN JSIC offered an alternative model of cooperation, which takes into account specific features and level of development of the Ukrainian insurance and banking markets. The opportunity of using of insurance for banks risks limitation in mortgage lending was also considered, as it makes mortgage lending more affordable for the general public.

Larysa Nepochatova, President of BUSIN JSIC considers that the mutual interest of bankers and insurers in extension and expansion of their cooperation is a basis for successful cooperation of these two financial establishments, and development of long-term relations.

BUSIN JSIC was included into the "Gvardiya 500" rating of the largest companies of Ukraine carried out by the Ukrainian rating Agency and "Halytski Kontrakty" Publishing House, and it received a Certificate for the right to use the "Gv. 500" trade mark.

Financial statistics in 2005 BUSIN JSIC was top of the Insurance Indemnity National Club's rating in the "Aviation Insurance" Category. In 2005 the company paid insurance indemnities of over 1.7 million US Dollars.

Insurance Indemnity National Club is an independent club founded in 2001 by "Right and Economic Research" Ukrainian Scientific and Research Institute, "Insurance Business" magazine editors and "Insurance Top" Insurance rating. The Club unites companies which paid insurance indemnities exceeding ˆ 1.7 million per year and participated in "Insurance Top" project.

BUSIN JSIC has been a valued member of the Insurance Indemnity National Club for five years.

International IATA Conference on Aviation insurance and risk management will be held in Bangkok, Thailand. BUSIN JSIC's President, Nepochatova Larysa M., will take part in the Conference.

The representatives of international organizations, aviation authorities, airports, leading airlines, insurance and legal companies are planning to discuss the following current aspects of aviation business: volume and prospects of the aviation insurance market development, peculiarities of insurance of military and similar risks under modern circumstances, regulatory policy of the European Union regarding airlines and other issues. Those participating in the conference will listen to reports from airlines' top managers, and Lloyd's brokers' representatives regarding this topic.

IATA (International Air Transport Association) was founded in 1945 with the purpose of developing international cooperation in aviation and improve the safety, reliability and economic services of air transportation. Today IATA (Headquarters in Montreal, Canada) unites 265 airlines, which perform more than 94% of the world transport, as well as 82000 travel agencies from all over the world.

Larysa Nepochatova, President of BUSIN JSIC took 14^th place in "Gvardiya 500" rating of the best insurance company branch leaders in 2005.

The list was compiled by the Ukrainian Rating Agency and "Halytski Kontrakty" Publishing House on the basis of insurance companies' top managers' evaluation of each other based on the following criteria: personal reputation, leadership potential, flexibility, ability to form corporate culture and use new technologies and management methods.