ARX and the DFC team up to offer war risk insurance coverage to businesses for up to ₴100M.

Thursday, November 14, 2024
ARX and the DFC team up to offer war risk insurance coverage to businesses for up to ₴100M.

The ARX company, a subsidiary of the international Fairfax Financial Holdings group, together with the DFC (US International Development Finance Corporation), will offer Ukrainian and international companies coverage for property against the risks of damage due to missile attacks, drone attacks, and their debris in amounts up to ₴100M ($2.5M) for a separate insurance object. Coverage can be provided throughout Ukraine, except in regions close to the frontline and the Russian border.

The DFC concluded a reinsurance contract with ARX, the first company in Ukraine to introduce war risk insurance in 2023. Given the program’s specificity, the insurance process will be selective and weighted.

ARX ​​notes that the DFC’s decision may be a signal to the international reinsurance market and lead to the involvement of international commercial reinsurers in Ukraine. Such insurance would allow businesses to be more confident in continuing or resuming operations.

 

Support independent journalism team

Dear Ukraine Business News reader, we are a team of 20 Ukrainian journalists, researchers, reporters and editors who would humbly ask for your support.

Previous post
What key Ukrainian industries have suffered enormous losses during the war?

What key Ukrainian industries have suffered enormous losses during the war?

Next post
Ukraine will receive a loan of up to €50M from Finland and a $1.35B grant from the US for humanitarian and social programs.

Ukraine will receive a loan of up to €50M from Finland and a $1.35B grant from the US for humanitarian and social programs.

Previous Main Topics