Ukrainian businesses will start insuring elevators against war risks.

Elevator equipment manufacturer KMZ Industries concluded a partnership agreement with the leading insurance company in Ukraine, ARX, regarding the provision of insurance services for elevator complexes against military risks. This coverage will allow elevator owners to receive financial compensation for property damage or destruction due to the war, including missile attacks, UAV attacks, and falling debris. The annual insurance fee is calculated individually.

It should be noted that as of February 2024, Ukraine’s agricultural sector has already suffered more than $80B in losses due to the war. In particular, the losses include damage to granaries worth $1.8B. In 2023, because of the Russian shelling of the Danube’s port infrastructure, assets belonging to the largest producer and exporter of sunflower oil, Kernel, were damaged. The warehouses of the Bessarabska branch of the Nibulon agricultural holding were also destroyed. In addition, in March 2024 Russian missiles destroyed the elevator infrastructure of the Ukrlandfarming group.