Insurance

During the period of global upheavals caused by a full-scale war, cargo insurance issues have gained new importance for Ukrainian exporters. If earlier the main concern of businesses was the amount of policy costs, today their predictability, consistency of rules and real effectiveness of insurance coverage have come to the fore.

Three Russian insurers, including a subsidiary of Sberbank of Russia, have applied to India for permission to insure marine oil cargoes.

Interpipe notes that the company “relies only on its own resources to cover the cost of insurance against war risks at sea.”

To insure the export of Ukrainian agricultural products, an additional $1 billion must be found.

As a result of Russian attacks on Ukrainian port infrastructure, the price of ship insurance has increased.

Western companies still provide services to tankers carrying Russian oil, despite the “price ceiling”.

Currently, dockers in the ports of Ukraine also face the problem of insurance. Some private companies refuse to insure workers.

The company Nord Stream AG wants to sue the insurance companies because they refused to compensate for the damages caused by the explosions.

The expansion of the vessel insurance mechanism in the Black Sea will formally begin on March 1.

Two Ukrainian banks have already issued letters of credit in favor of British insurers.