Insurance amount
1. The amount within which the insurer is obliged to pay insurance compensation under a property insurance contract or the amount that he is obliged to pay under a personal insurance contract (insurance sum) is determined by agreement between the insured and the insurer in accordance with the rules provided for in this article.
Source: "Civil Code of the Russian Federation (Part Two)" dated 26.01.1996 No. 14-FZ (as amended on 30.11.2011) (with amendments and additions coming into force from 01.01.2012)
1. The insurance sum is a monetary amount established by federal law and/or defined in the insurance contract, based on which the size of the insurance premium (insurance contributions) and the size of the insurance payment upon occurrence of an insured event are determined.
Source: Law of Russia dated 27.11.1992 No. 4015-1 (as amended on 30.11.2011) "On the Organization of Insurance Activities in the Russian Federation" (with amendments and additions coming into force from 01.01.2012)