At the request of the IMF, Ukraine develops a war risk insurance system.

The National Bank of Ukraine reported that the Financial Stability Board approved a conceptual memorandum for creating a fully functional war risk insurance system in Ukraine. This is stipulated by the Memorandum on Economic and Financial Policy between Ukraine and the IMF.

The model of war risk insurance defined by the concept provides for the introduction of mandatory and voluntary insurance. The proposed model will work with the participation of local insurers, international reinsurers, and the state in the form of a specially created state agency (or another institution determined with international donors as a result of future discussions).

Further elaboration of the model and preparation for changes to legislation will continue within the framework of the working group that is operating with the participation of experts from the NBU, the Ministry of Finance, and the Ministry of Economy.