More and more Ukrainian insurers are offering protection against war risk, and their number is is almost equal to the entirety of the active insurance market, about 50 companies, said the director of the National Association of Insurers of Ukraine, Denys Yastreb.
As he clarified, this type of insurance is provided in differentmanners: some insurers have developed separate “military” contracts; some have expanded the limits of the existing conditions or excluded the standard “military” grounds for refusal; there are also insurers that have included war risk coverage in their standard risk set.
As Yastreb added, cars and real estate, health and life, production and businesses can all be insured against war risk. Insurance conditions and amounts are determined by each insurer separately.
Currently, most insurance companies offer property insurance against war damage within certain limits, though not for the property’s full value. However, insurance with full coverage of losses is available, but this will significantly increase the cost.