Ukrainian insurance companies are actively offering insurance against war risks to individuals and legal entities in various segments (auto insurance, real estate, medical, and agricultural insurance), according to a survey of market participants.
In January 2024, sales of home insurance among individuals with war risk coverage increased by 150%, and another increase was seen in February, even compared to January, noted the INGO insurance company. Last fall, the company expanded its winter crop insurance program. The compensation limit depends on the volume of insured crops and ranges from ₴500,000 to ₴2M.
At the same time, regarding the insurance of real estate properties against war risks, only a few survey participants reported the availability such services, indicating a cautious approach by insurers to this type of coverage during the war.
INGO has already paid claims on military risk policies for property, though the number of these payments is still insignificant (1-2% of the total).