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Property insurance for business against war risks
08 december 2023
2 min.

INGO will indemnify Ukrainian business for losses caused by the consequences of war action

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During 2022-2023, the company has introduced new insurance solutions for various types of insurance and categories of clients.

This time, INGO is expanding its war risk protection for Ukrainian businesses.

Small and medium-sized businesses can receive losses compensation in case the insured property is damaged as a result of enemy actions in the air, actions of enemy sabotage and reconnaissance groups in the rear, no closer than 100 km from the front line. As of today, reimbursement of UAH 20 million is offered to protect facilities from the war risks.

To receive an insurance payment, the affected company shall provide a standard list of documents and a written statement to law enforcement authorities about criminal offense under the Article 438 of the Criminal Code of Ukraine «Violation of the Laws and Customs of War», as well as corresponding copy of the extract from the URPI under the same article.

It's worth reminding that in international practice, the risk of war is classified as a force majeure and an exclusion, and insurance payments are not made by a standard property contract. Instead, separate insurance coverage is required to protect against war risks.

Even in such circumstances, INGO Insurance Company is still ready to offer companies a favorable insurance offer, as it has the necessary competencies and ability to assess risks in a war on the basis of its own statistics.

He also added that the company already provides protection against war risks in other types of insurance, such as cargo transportation insurance (both marine and land), hull insurance, health and accident insurance, crop insurance, residential insurance, etc. and plans to further expand this list.

property
Protection of property from war risks
a new insurance program for business
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