Insurers have restored risk coverage for ships bound for the ports of Great Odesa
International insurance companies have restored risk coverage for civilian ships going to Ukrainian ports in the Black Sea.
For example, insurance broker Miller offers “full military risk insurance” for ships bound for Ukrainian ports, Bloomberg reports.
This does not necessarily make flights safer for the crew, but it could help facilitate the export of Ukrainian agricultural products, which, according to the US Department of Agriculture, provided work for about one in ten Ukrainians as of the beginning of 2022.
Also, restoring insurance is an important contribution to restoring the security of global food supplies.
“When the Russians withdrew from the Grain Agreement, they thought they could create even more problems for Ukraine,” said Mykola Beleskov, a researcher at the National Institute for Strategic Studies in Kyiv. He expects that “the number of ships heading to Ukrainian ports will increase.”